• Short Summary

    OIL TYCOONS, BANKERS, POLITICIANS AND PROTESTING ESKIMOS FLOCKED TO ANCHORAGE YESTERDAY (11 SEPTEMBER) FOR THE GREATEST LAND SALE IN THE HISTORY OF ALASKA.

  • Description

    OIL TYCOONS, BANKERS, POLITICIANS AND PROTESTING ESKIMOS FLOCKED TO ANCHORAGE YESTERDAY (11 SEPTEMBER) FOR THE GREATEST LAND SALE IN THE HISTORY OF ALASKA. BY THE TIME BIDDING ENDED THE OIL MEN HAD SPENT MORE THAN 900 MILLION DOLLARS (NEARLY 259 MILLION STERLING) FOR STAKES IN THE VAST ALASKAN OIL FIELDS.

    ABOUT 1,100 BIDS WERE RECEIVED FROM THE COMPANIES SEEKING LEASES ON ALASKA'S NORTH SLOPE NEAR PRUDHOE BAY, WHERE A MAJOR OIL DISCOVERY WAS MADE LAST YEAR. DURING THE SIX-HOUR SALE A TOTAL OF 179 TRACKS COVERING ABOUT 450,000 ACRES (182,000 HECTARES) WERE OFFERED. THE ALASKAN GOVERNMENT STILL HAS ANOTHER 800,000 ACRES OF OIL LAND TO LEASE BUT STATE OFFICIALS SAY THEY ARE IN NO HURRY.

    ALTHOUGH THE SUM OF 900 MILLION DOLLARS RECEIVED FOR THE LEASES WAS STAGGERING, IT WAS LOWER THAN EXPECTED. PREDICTIONS BEFORE THE AUCTION SET A LEVEL OF BETWEEN 1,000 MILLION AND 2,00 MILLION DOLLARS (417 AD 834 MILLION STERLING), I EXPECTED BIDS FOR THE LAND. ITS OIL POTENTIAL HAS BEEN CONSERVATIVELY ESTIMATES AT BETWEEN 5,000 AND 10,000 MILLION BARRELS.

    BUT NOT EVERYONE IS HAPPY WITH THE SALE. ALASKAN ESKIMOS PICKETED THE AUCTION CARRYING SIGNS SAYING: "TWO-THOUSAND MILLION DOLLAR NATIVE LAND ROBBERY". MANY ESKIMOS FELT THAT THE DEPARTMENT OF THE INTERIOR AND THE STATE WERE MOVING TO CHEAT NATIVE PEOPLE OUT OF NEARLY ALL THEIR LAND IN RETURN FOR A PITTANCE.

  • Tags

  • Data

    Film ID:
    VLVAD6PVN88FND5NWOE1NY45OEXET
    Media URN:
    VLVAD6PVN88FND5NWOE1NY45OEXET
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    12/09/1969
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:02:21:00
    Time in/Out:
    /
    Canister:
    N/A

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