Valdez, Alaska The original town site was dismantled and abandoned. From 1975 to 1977, the Trans-Alaska pipeline was built to carry oil from the Prudhoe Bay oil fields in northern Alaska to a terminal in Valdez, the nearest ice-free port. Oil is loaded onto tanker ships for transport. The construction and operation of the pipeline and terminal boosted the economy of Valdez. The 1989 "Exxon Valdez" oil spill occurred as the oil tanker "Exxon Valdez" was leaving the terminal at Valdez full of oil. The spill occurred at Bligh Reef, about from Valdez. Although the oil did not reach Valdez, it devastated
Prudhoe Bay oil spill $10 million which included per-gallon environmental penalties for the spills, fines for natural resource damages and other civil charges to settle civil assessments for the spills. BP argued that no money was owed to the state for lost production, but the arbitration panel concluded that the pipeline problems and associated reservoir complications resulted in lost or deferred production of more than 30 million barrels of oil and natural-gas liquids until the end of the oil field's life. Prudhoe Bay oil spill The Prudhoe Bay oil spill (2006 Alaskan oil spill) was an oil spill that was discovered on March 2,