Anchorage -- The Alaska Legislature's Joint Committee on Mergers held its first meeting Friday in Anchorage to discuss the proposed BP-ARCO merger.

The committee, chaired by Senator Rick Halford (R-Chugiak), has been charged by the Legislature with reviewing the proposed merger of the state's two largest oil producers. In addition to Attorney General Bruce Botelho, the committee heard from business groups, public interest and environmental groups, and other interested parties.

"We got a real feeling that the public is behind us in the effort to get as much information as we can about this merger," said Representative Joe Green (R-Anchorage), Committee vice chair. "This issue is of vital importance to Alaska's future. We cannot allow this merger to happen without full public scrutiny."

The committee was created during the first session of the 21st Alaska Legislature to review all aspects of the BP-ARCO merger, including:

• revenues generated through oil production and transport;
• employment opportunities for Alaskans;
• environmental impacts;
• future oil and gas exploration and development;
• sale of natural gas from the North Slope; and
• ensuring a healthy competitive environment for industry in Alaska.

The committee will meet throughout the next year and a half, and will be terminated when the 22nd Legislature convenes in January 2001. The next committee meeting is scheduled for the first week in July.

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