Jaime Quinonez's Personal Web Site for Mission 2007

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Focused Question: What is the past and current structure of the oil market? (Sep. 30, 2003)

Bucceri, Tom. Division of Oil and Gas Homepage. http://www.dog.dnr.state.ak.us/oil/. 26 Sep. 2003.

• 12.5% royalty from land-leasing goes to Alaska (schools receive portion of money)
• June, July 2003, Alaska received: $104,706,887 and $95,406,791 from oil and gas
• Third parties may benefit from restricted disclosure of private government seismic testing if doing so furthers Alaska's interests
• Amount of the Exploratory Incentive credits shall be based upon eligible sots with 50% or $5,000,000 maximum for approved activities on state land
• Numerous oil seeps along southern half of Alaskan peninsula, opposite side of the state from ANWR
• Northern half of peninsula is a good setting for structural and strategic traps
• Oil and gas are evident in many wells on peninsula, but not commercial flow of oil has been proven
• Primary tests show that further tests may expose oil and gas potential - seismic testing somewhat uncontrollable
• Appears to be a reputable governmental source, although inclined to support profitable industrial ventures
  
  

Arctic National Wildlife Refuge. http://www.anwr.org/backgrnd/theissue.htm. Artic Power. 2003.

• Prudhoe Bay, 100 miles West of ANWR, similar geology
• Combined with Kuparuk, Lisburne and Endicott, form 25% of US domestic oil production
• Millions of dollars in research and development on North Slope demonstrate that petroleum and natural wildlife can peacefully coexist
• Minimal tundra used for oil facilities, migratory species' migration patterns taken into consideration
• ANWR largest unexplored oil field in North America
• After leasing land, fifteen years until ANWR oil reaches market
• Domestic crude oil production declining, from 9 billion barrels per day in 1985 to 6.6 million in 1995, to a projected less than 5 million in 2010
• Deficit in US supplies - 10 million barrels per day
• Oil industries can promise natives fish and wildlife resources
• ANWR's establishment has meant that little actual oil and gas exploration has occured, but ANWR is located between two large, known oil fields, representing 25% of US domestic crude oil production
• Recoverable oil estimates range from 600 million barrels to 9.2 million barrels
• 26 "super giant" fields hypothesized to contain 500 million barrels - less area required for oil exploration
• Site heavily biased towards oil drilling
  

"Challenging Times." Meed Middle East Economic Digest 47. 13 Jun 2003.

• Strikes in Venezuela and violence in Nigeria led Saudi oil to raise prices to $30 per barrel- First fiscal quarter 2003: Saudi oil revenues average $7,500 - $8,000 million per month- Iraq conflict, occupation, benefits Saudi Arabia 
• Unemployment in Saudi Arabia creates tension on government - heavy oil production necessary to quell economic unease
• Iraq War and new government appointments make centralizing difficult
• Debt reduction capable and high GDP capable of getting Saudi Arabia into European Union
• Oil 34% of GDP in Saudi Arabia
• First published in The United Kingdom - recognizable perspective 
  

"Venezuela's energy industry: Counting on oil to re-float the economy -- again." Institutional Investor International 28. Jun 2002.

• Venezuelan economy dependent on oil, underdeveloped in other areas, depend on US industry for electricity 
• United State's economic influence continuously appears in article