A large project like this takes time. |
A lot of the oil isn't visible. |
But, of course, we're concerned about any spill scenario. |
Changing the rules and dramatically increasing taxes on prior investments and future investments sends a chilling message to any company considering investments in Alaska. |
If you look at the fact that we've delivered 15 billion barrels of oil down that line since it opened, if you compare any amount of oil spilled, it's a tiny fraction. |
It's taken us awhile to get closer and closer to the actual scene to try to evaluate exactly where the leak is. |
Knowing the impact area and getting it cleaned up, to us, is in a sense the most important thing. |
Our participation in the state lease sale is aligned with our current interest in progressing Liberty along. |
Right now we don't know how big of a spill we have. |
The current status is we don't know what caused the spill right now. We don't know the size of the spill right now. |
There are technical challenges with viscous oil and these facilities were created to handle light oil. It's not necessarily the characteristics of the crude oil, it's water. Water is the source of corrosion. You've got to have water in the line to have corrosion. |
They are not necessarily as sensitive to very small leaks at any one time. |
We expect that the majority of the material recovered is going to be oil. |
We need a healthy oil business in order to move to a healthy gas business. We view oil and gas as one package and the agreement reached with the governor is finely balanced. |
We'll be out there as long as it takes to clean it up as thoroughly as we can. |