On This Day in Oil & Gas: November 16th - Trans-Alaska Pipeline Authorisation Act
November 16th 1973 : US President Richard Nixon puts pen to paper on the Trans-Alaska Pipeline Authorisation Act.
After Atlantic Richfield struck the largest oil field ever discovered in North America at Prudhoe Bay in 1968 and the world was shaken by the 1973 oil crisis, negotiation began on the necessary legislation to make the Trans-Alaska Pipeline a reality.
Construction began in 1974 and four years and $8 billion later, the 1,287 km network was complete and transporting 10 per cent of US oil production to end users.
Just don’t mention Keystone XL, anyone!
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