Business: Alaska's Frustrating Freeze in Oil

Three years have lapsed since drillers struck oil on Alaska's North Slope, touching off a black-gold rush that promised to make the relatively poor state the "Kuwait of the North." What has happened to the promise? To find out, TIME Correspondent Patricia Delaney spent ten days trekking across Alaska. Her report:

SUMMER is settling in on the North Slope, and the Arctic yellow poppy blooms in riotous abundance at Prudhoe Bay. Near a lone British Petroleum Co. rig, indifferent caribou graze. At the base camp, oil workers grow restless in the 24-hour daylight....

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