During his 26-year career with Atlantic Richfield Company (ARCO), John M. Miller directed planning, business development, and operations in the U.S., Norway, Japan, Korea, China, and Indonesia. For more than a decade during the 1970s and 1980s, he directed Alaskan megaprojects budgeted at billions of dollars. In the late 1990's, he chaired the Trans-Alaska Pipeline System (TAPS) Owners Committee.
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A company will reckon as best it can, then when it finds a field will conscientiously refigure, only to find development cost is a bit higher, prices a bit lower, taxes a bit heavier -- so that it would have been better off never having gone to the North Slope in the first place.
-- Morris A. Adelman, professor of economics, MIT
White House Cabinet Task Force, 1971
The Last Alaskan Barrel recounts Alaska's fifty-year experiment with Arctic North Slope oil and gas and its associated risks and rewards as an investment.