Sunday, June 28, 2009

Exxon .... let the Tariff problems begin.

Ahhh I see something in the news as a small “news” article, which it really shouldn’t be and should be investigated. But KTUU and the ADN are liberal rags…. and I digress.

It seems that some of the Tariff’s for the TransAlaska Pipeline were a tad too high. Which means that the owners of the TransAlaska pipeline were charging a little too much to let the oil flow through it.

Now why would I bring this up? Exxon, who holds 18 percent of the TransAlaska Pipeline.

This has happened before. In 2001, a hearing concerning the restoration, removing and dismantling of the TransAlaska Pipeline. It also showed in the testimony how Exxon leapfrogged around and supposedly “forgot” to put in to the calculations concerning interest and so on and in the testimony you can see how it was royalties that were held. If you are curious to read… here is the PDF from the Alaska RCA and start on page 134. Also, it is interesting how Exxon in 2006, was unable to meet Crude production (page 53). Why? They owned around 26% .... so who knows.

Not sure about everyone else, but Exxon doesn't do anything for me. Can you tell?

Most Alaskans I know are dumping Exxon shares like you wouldn't believe. It has dropped to 69.05 as of Friday... and doesn't look like it is going back up.

What makes this more interesting is that many don't realize how much Exxon likes to play games. They are notorious for suing anyone who they think or deem an enemy.. and they usually win.

We are going to see more Exxon problems arise. Quote me on this.

1 comment:

  1. Exxon seems to muck up everything they're involved with, and then sue anyone/everyone who gets in their way. Can you say, "Bad idea"?