Wednesday, April 9, 2008
BP saddled up to rival gas goliath Conoco Phillips to share the drivers seat on their next great adventure.
On Monday the two giants announced their plan to build a natural gas pipeline stretching all the way from Alaska to the lower 48 states -- a project they claim to be the largest in North American history with a distance of more than 2,000 miles and a bill of close to $30 billion.
“The BP-ConocoPhillips pipeline will bring vast amounts of both natural gas and economic opportunity to the lower 48, and that’s why I wish we could open it today instead of having to wait nine years for the construction," said U.S. Rep. Joe Barton, R-Texas, ranking member of the House Energy and Commerce Committee.
Currently U.S. natural gas production remains relatively close to nil, while consumption is expected to grow over the course of this year by at least one percent.
“The United States has subsisted on the same gas supply levels for the last decade, and you can see it in the steadily rising cost of heating our homes," Barton said. "That might be even more expensive without the unfortunate 19 percent reduction by industrial gas users, reflected in closed plants and lost jobs. This new pipeline will counter both those unhappy trends by adding four billion cubic feet of gas per day to our supply, which is enough to fill six to eight percent of America’s daily requirement.