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November 30, 2007
BIG OIL PROFITS
by Tina Grazier
Americans do a lot of complaining about corporate profits but rarely ask what corporations do with all that profit. A proposal by Conoco-Phillips offers one explanation:
HOUSTON - Oil exploration and production company ConocoPhillips said Friday it has proposed to develop a multibillion-dollar pipeline that would transport natural gas from Alaska to the lower 48 states and Canada.The company said it's "prepared to make significant investments, without state matching funds, to advance this project." ConocoPhillips spokesman Charlie Rowton said the company's best estimate for the entire project, including the pipeline from Alaska's North Slope to Chicago, is between $25 billion and $42
Posted by Post Scripts at November 30, 2007 09:38 PM