Washington DC -- Senate President Drue Pearce testified Thursday before the U.S. Senate Energy and Natural Resources Committee to ensure that Alaska's concerns over BP-Amoco's proposed acquisition of the Atlantic Ritchfield Company (Arco) are represented.

Pearce emphasized that the State Legislature will play a significant role in the investigation of this issue to ensure that the creation of one giant oil producing company on the North Slope will not harm Alaska's workforce, economy, environment or revenues.

"Rivalries and competition within the Alaska oil industry have contributed to a vibrant and successful oil economy over the years," said Pearce. "The Legislature must do what it can to maintain a healthy level of competition on the North Slope."

The Legislature formed the Joint Special Committee on Mergers last session to study this issue and will cooperate with the both the State Department of Law and the Federal Trade Commission (FTC) as they investigate the effects of BP-Arco's union.

Pearce met Wednesday with officials from the FTC including Mr. William Baer, Director of the FTC's Bureau of Competition. She was joined by attorney's from Collier, Shannon, Rill & Scott, the Washington, D.C. law firm retained to assist the Legislature in this anti-trust investigation process and by David Scheffman, prominent professor of economics, who will also work with the Legislature throughout this process.

"I am encouraged with the FTC's willingness to include the Legislature as we all review the acquisition and its effects on Alaska," Pearce said. "Throughout our discussions, FTC officials appeared genuinely interested in our suggestions and conclusions. They also assured us that the Alaska Legislature would have a place at the table to work on recommendations during the review process."

Pearce noted that the Legislature has only just begun to examine both the state and federal laws that influence the acquisition. The Special Committee on Mergers will continue to seek appropriate information as it studies that ramifications this acquisition will have on Alaska properties, Alaska jobs and resource development. The committee will next meet on July 8th in the Anchorage Legislative Information Office.

Media Note: To view Senate President Drue Pearce's testimony, please go to the following web site http://www.senate.gov/~murkowski and click on the ARCO-BP merger hearing link. Her testimony starts at the 3 hour and 30 minute point.