Advertisement
(Page 2 of 2)

Well Wishes From Alaska : Lifting Export Ban Could Make Japan a Big Oil Customer

March 04, 1995|EVELYN IRITANI | TIMES STAFF WRITER

Oil veterans caution against placing too much faith in the numbers associated with the oil export ban battle, given the unpredictability of the global oil market. They point out that Middle East oil suppliers could lower their prices to compete with a new supply from Alaska, making it risky to predict potential export markets or revenues.

"These numbers being used are numbers that must face the test of the marketplace," said Al Greenstein, an Arco spokesman. "This may not be as beneficial as some hope or as damaging as others predict."

(BEGIN TEXT OF INFOBOX / INFOGRAPHIC)

Selling Alaskan Oil

Japan is expected to become a likely consumer of Alaskan oil if the U.S. government lifts its export ban. While oil production in Alaska has been decreasing, production is expected to go up once the ban is lifted.

JAPANESE OIL IMPORTS

In billions of barrels:

1993: 1.61

ALASKAN OIL PRODUCTION

In millions of barrels*:

1994: 598.6

* Based on average daily production.

Sources: Nippon Business Facts & Figures, State of Alaska

Advertisement
Los Angeles Times Articles
|
|
|