Exxon begins drilling at Point Thomson in Alaska

Source: AP

ANCHORAGE, Alaska – Exxon Mobil says it has begun drilling at Alaska's Point Thomson oil and gas field.

Patrick McGinn, a company spokesman, says drilling operations were launched Friday.

In February, Exxon returned eight of its Point Thomson leases that were part of 13 added to the field in 2002. Exxon had promised to drill wells and begin producing oil within four years, but no drilling occurred.

The state has been fighting with the Irving, Texas-based oil giant and other lease holders over the lack of progress there.

Alaska officials have tried to cancel the leases, but in January it did allow Exxon to drill on two leases after the company said it would start production within five years.

Read more: http://news.yahoo.com/s/ap/us_exxon_point_thomson

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May be a sign of increased demand for oil

Rig count is way down, so very cheap to slowly punch a few holes to hold the leases while really doing nothing more than preventing anyone else from having them, either.

So supply obstruction is still the name of the game for Big Oil.

These big oil companies are polluting the land, sea, and air with their dirty fossil fuels. They are the biggest contributor to carbon pollution that is accelerating global warming. Profits of the oil companies are at the expense of the future environment.

I can only hope that President Obama's cap and trade legislation forces the big energy produces to contribute an equal amount to the production of clean, renewable energy sources as they do to oil.

So much for Sarah Palin taking on the Oil Companies as was said during the Campaign of Lies in 2008.