Sohio/BP Trans Alaska Pipeline Finance Inc. - 1970's dated Various Denominations Bond - Available in Purple, Orange, Brown or Olive - Please Specify Color
Inv# GB5055 BondDelaware
Oil Bond. Various Denominations. Female figure with mountains in background. Important 'Alaska Pipeline' printed by American Bank Note Co. Rare! Great! Available in Purple, Orange, Brown or Olive. Please specify color.
The Trans-Alaska Pipeline System (TAPS) constitutes a significant oil transportation network across Alaska, comprising the trans-Alaska crude-oil pipeline, 11 pump stations, numerous miles of feeder pipelines, and the Valdez Marine Terminal. Recognized as one of the largest pipeline systems globally, it is often referred to as the Alaska pipeline, trans-Alaska pipeline, or Alyeska pipeline, although these terms specifically denote the 800 miles (1,287 km) of the pipeline with a diameter of 48 inches (1.22 m) that transports oil from Prudhoe Bay to Valdez, Alaska. The crude oil pipeline is under the ownership of the Alyeska Pipeline Service Company.
Construction of the pipeline took place between 1975 and 1977, prompted by the 1973 oil crisis, which led to a significant increase in oil prices in the United States, making the exploration of the Prudhoe Bay oil field economically viable. Following the discovery of oil at Prudhoe Bay in 1968, a series of environmental, legal, and political discussions ensued, and the pipeline was ultimately constructed after the oil crisis spurred the enactment of legislation aimed at alleviating legal obstacles to the project.
During the construction phase, engineers encountered numerous challenges, primarily due to the severe cold and the remote, rugged terrain. This project was among the first large-scale endeavors to address issues related to permafrost, necessitating the development of specialized construction techniques to manage the frozen ground. The undertaking attracted tens of thousands of workers to Alaska, resulting in a boomtown atmosphere in cities such as Valdez, Fairbanks, and Anchorage.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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