Alaska: America's Last Oil and Gas Reserve, in an Advisory by ,
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BW2007  JAN 18,2002       2:30 PACIFIC      05:30 EASTERN


( BW)(TX-INDUSTRIAL-INFO-RES) Alaska: America's Last Oil and Gas
Reserve, in an Advisory by Industrialinfo.com

    Business/Energy Editors

	   HOUSTON--(BUSINESS WIRE)--Jan. 18, 2002--The following is an
advisory by Industrialinfo.com (Industrial Information Resources
Incorporated; Houston). When Secretary of State William Seward
purchased Alaska from Russia on March 30, 1867 for $7.2 million, his
goal was to increase the United States' (U.S.) landmass. In reality
"Seward's Folly" has arguably turned out to be, the single best deal
the U.S. government has ever completed. While Alaska does cover over
656,000 sq miles, its greatest contribution to the U.S. has been, and
will continue to be, its natural resources.
	   The first major oil reserve in Alaska was first discovered in 1968
in Prudhoe Bay. Soon thereafter, construction of the Trans-Alaska
Pipeline kicked off in 1974 and by 1977 oil was being transported 800
miles south to Valdez, Alaska. Today, the Trans-Alaska Pipeline
transports 20% of the annual U.S. oil production.
	   With the discovery of the oil and natural gas reserves on the
North Slope, Alaska was thrust into the limelight of the U.S. energy
industry. Alaska boasts over 9 billion barrels of oil reserves yet to
be recovered. In addition, Alaska has the potential to recover 4
billion barrels of liquid natural gas and up to 65 trillion cubic feet
of raw natural gas. With the traditional oil and gas reserves in the
lower 48 states slowly depleting, Alaska remains the best hope to meet
the fuel needs of the U.S. energy industry in the future.
	   Having resources of this magnitude provides the state of Alaska
with numerous capital opportunities. Over $38 billion will be spent in
Alaska developing, processing and transporting the oil and gas
reserves in the next few years. New finds will be developed and
existing finds will be expanded as the industry seeks to develop the
natural resources to their utmost. Companies such as Phillips Alaska,
ARCO Alaska, BP Canada Energy, Foothills Pipeline, Yukon Pacific and
Arctic Resources are developing the oil and gas reserves at a feverish
pace.
	   Industrialinfo.com provides daily news related to the industrial
market place including industry alerts and databases for the energy
and industrial markets. For more information on trends and upcoming
construction activities for the oil and gas markets as well as other
industrial sectors send inquiries to energygroup@industrialinfo.com
or visit us at www.industrialinfo.com and www.iirenergy.com.

    --30--AA/ho*

    CONTACT: Industrialinfo.com, Houston
             Ed Weatherly, 713/783-5147

    KEYWORD: TEXAS ALASKA
    INDUSTRY KEYWORD: ENERGY GOVERNMENT OIL/GAS
    SOURCE: Industrialinfo.com

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