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WEBVTT kvos special 32 02 s53

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--interests which are
outstanding in their country.

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At this point, we
are not at liberty

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to be any more
specific than this.

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There have been some comments
as to why we have picked

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Guemes Island as a plant site.

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I think the answer
to that is simply

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that we employed competent
engineering personnel to survey

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the area, and this
plant site is the one

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which they have
recommended to us as being

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the most desirable and most
economic for this purpose

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and the only site usable for
this purpose in Skagit County.

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The reasons involved are the
availability of Bonneville

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Power, which, of course,
is available to all

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of the people in the aluminum
industry at the same terms

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and rates, the availability
of labor, the fact

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that this is an extremely
good, protected deep water

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port, and permits low cost
material handling, both

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into and out of the
plant, and that there

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is sufficient land that
is reasonably level

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enough to provide an adequate
plant site, high enough

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above anticipated high
water so that there

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is no problems on
that score, but not

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so high that there are
problems of moving material,

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particularly alumina,
from large vessels which

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will bring it to the plant site,
to the storage facilities and,

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ultimately,

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to the pot rooms themselves.

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The plant is rated at
approximately 130,000 tons

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per year of aluminum.

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In various press
releases by others,

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figures have been used ranging
from 120,000 to 140,000 tons.

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The design capacity
is 130,000 tons.

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Historically, every plant
has produced somewhat more

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than its design capacity.

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We expect therefore that
the actual production

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will be somewhat nearer
140,000 tons, even though we

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are designing for 130,000 tons.

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We're going to use
the conventional Hall

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process, the straight
electrolytic reduction in which

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alumina is dissolved in a
bath of fluoride and cryolite

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and reduced to aluminum with
the consumption of carbon

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electrodes in the process.

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[AUDIO OUT]

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Essentially, this breaks
down into three parts.

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In the process, of course,
the certain relatively small

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but significant
amount of materials

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used in the
electrolytic bath do get

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into the air in the hoods
which are over these pots.

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Our design is such that
the pots will be hooded,

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and the amount of air therefore
will be relatively small, as

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distinct from other approaches
to the problem where the vapors

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and fume get into the air
of the pot room in general,

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and therefore you have to
process all the air that's

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in the entire operating plant.

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We recycle these materials
back into the pots,

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and there is no effluent.

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The only other
pollution problem we

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have is the same
as any industrial,

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or for that matter,
any community, and that

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is ordinary sanitary water,
sewage problems of that sort.

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In that area, of
course, we propose

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to follow the standards
which are set up

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by local and state regulations.

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I believe we are the
only company at present--

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although I must admit, I'm sure
that as other people's power

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contracts come up
for renewal, they

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will have an opportunity to
do the same as we have already

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done.

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I believe, however, we're the
only company at present that

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has committed in
our power contract

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with the Bonneville
Power Administration

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to first submit to them for
their review and approval

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the detailed method of
anti-pollution control

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which we plan to use.

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And secondly, to covenant--

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to continue to use
this, to maintain it,

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and to use it effectively.

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If we don't comply with
any of these requirements,

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they have no obligation
to supply us power.

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And without power,
our pots freeze up,

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and I've explained
earlier the problem

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that this means to
an aluminum company.

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In addition, we are negotiating
and are getting to the point

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where we are ready to
enter into a contract

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with Washington State
University for monitoring

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the air, the soil, the vegetable
growth and the animal growth

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in the area for perhaps as much
as 18 months, certainly not

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less than a year, before we
go into operation in order

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to establish a baseline from
which we can make comparisons,

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and then continually to
monitor from then on.

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This university, because of the
large amount of the aluminum

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industry which exists
here in the Northwest,

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is without a doubt
the best equipped,

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has done more research and
development in this area

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than any other group of
which we have knowledge.

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And we're fortunate that in
being here, being available,

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and being willing to
render this service,

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we can continually keep a
check on the performance

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of the system which we
propose to install and not

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run the risk of being a bad
neighbor through inadvertence

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or failure of equipment, or any
other thing that sometimes does

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happen in industrial activity.

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Some comment has also been made
as to the size of the plant

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site, the amount of the area
which we proposed to use,

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the effect on the
island in general.

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The plant site we
now have is something

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like a little over 700 acres--

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I believe 714 acres--

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of which the facility you see
there, which is a rendering,

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it's done to exact scale,
uses about 140 acres.

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The economic size to which
this plant might be expanded

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will probably be twice, perhaps
three times the capacity.

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But by the nature of the
design, the increments

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take a very much
smaller amount of area

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than the initial
facility, so that we'll

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use going in something less
than 20% of our plant site.

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And we propose to use
the balance of the area

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to provide a landscape
buffering zone

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with the rest of the island.

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The plant, because of the
natural contours of the ground,

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will lie in what they refer
to-- the engineers refer to--

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[AUDIO OUT]

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Naturally, this breaks
down into two parts.

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In the first place, if we
don't get a building permit,

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since we intend to be good
citizens wherever we may be,

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we can't build on the site for
which we've made application.

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We do not have any other
alternative sites under option,

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nor are we negotiating for any.

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We have every reason to believe
that since our application is

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a normal routine,
reasonable application,

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that it will be treated
fairly and that approval

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will be given.

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But we certainly have
no assurance from anyone

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to that effect.

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Mr. Meissner, Duane
Trecker from Channel 12.

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You're from outside of the area.

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I would like your
reaction to the effort

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by the people who would like
to save the San Juan Islands.

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Well, as you say, I'm
from outside the area.

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I've visited here,
I've studied the maps,

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and I've seen from the
air and, of course,

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from across the water from
driving some of the San Juan

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Islands.

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Naturally, since we expect
to have 900 people initially,

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and ultimately, we
hope to expand and have

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more people employed
here, we want

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to do everything we can to
continue to make the Pacific

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Northwest as desirable
a place in which

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to live and work
as we possibly can.

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Without trying to be an
expert, it seems to me

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that most of the islands
that I've seen from the air

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are essentially not of any
interest from the point of view

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of industrialization because
they're relatively rugged

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and they just simply don't
offer enough flat land in which

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to put an industrial activity.

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Furthermore, they have
no utilities at all,

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and bringing utilities
to them would

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be tremendously expensive.

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Guemes Island, on the other
hand, in Skagit County,

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not in San Juan County, where
most of the San Juan Islands

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are, is about the same as
Manhattan to Jersey City.

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It's true that it's an island.

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I guess we're on an island
now, for that matter.

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But it doesn't seem to me to
fall into the same category

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as the other islands.

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Personally, I like to
fish and I like to sail

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and I like to get
out in the woods,

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and I would certainly
do everything

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I could to preserve the
rest of the islands--

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the San Juan Islands,
as I regard it.

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I don't really know how much
access the public has to them.

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In other words, I
don't really know

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for whom they're being preserved
because they are relatively--

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[APPLAUSE]

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--relatively inaccessible and,
I understand, very largely under

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private ownership with
therefore limited use

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by the average citizen.

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Dr. Meissner, Don [INAUDIBLE]
of KBRC in Mount Vernon.

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Will there be any problems
of the company receiving

00:13:43.400 --> 00:13:47.330 align:middle line:84%
enough power to operate
this plant on this site?

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We have a power contract
from Bonneville Power

00:13:50.590 --> 00:13:57.220 align:middle line:84%
Administration, which is
typical of the contracts given

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to the aluminum industry.

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And we have what is termed
firm or not interruptable power

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in an adequate
amount to take care

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of the operation of this plant.

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We also have the right, sometime
in the future when Bonneville

00:14:18.670 --> 00:14:23.080 align:middle line:84%
completes its program of
expanding water storage and so

00:14:23.080 --> 00:14:28.270 align:middle line:84%
forth, to amend our contract
for additional power

00:14:28.270 --> 00:14:31.150 align:middle line:84%
so that the plant
can be expanded.

00:14:31.150 --> 00:14:35.350 align:middle line:84%
At this time, it would not
be possible to build a larger

00:14:35.350 --> 00:14:39.220 align:middle line:90%
plant on firm power.

00:14:39.220 --> 00:14:43.570 align:middle line:84%
It would be possible to build
a larger plant using the firm

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power we have, which is 240,000
kilowatts plus a percentage

00:14:49.600 --> 00:14:52.330 align:middle line:90%
of interruptable power.

00:14:52.330 --> 00:14:57.190 align:middle line:84%
And frankly, most of the
companies in the area

00:14:57.190 --> 00:15:00.700 align:middle line:84%
do use a mixture of firm
and interruptable power.

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There is adequate power under
contract for this facility.

00:15:04.140 --> 00:15:06.960 align:middle line:90%


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Who are the owners of
Northwest Aluminum?

00:15:09.420 --> 00:15:11.280 align:middle line:90%
How is it structured?

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Well, as I said at the
beginning, basically,

00:15:16.080 --> 00:15:20.700 align:middle line:84%
Bell Intercontinental
owns 100% of the stock

00:15:20.700 --> 00:15:22.840 align:middle line:90%
of Northwest Aluminum.

00:15:22.840 --> 00:15:26.340 align:middle line:84%
Bell, to give you a
little background,

00:15:26.340 --> 00:15:32.811 align:middle line:84%
has a net worth of something
like $54, $55 million.

00:15:32.811 --> 00:15:38.520 align:middle line:84%
In turn, slightly
over 50% of its stock

00:15:38.520 --> 00:15:42.840 align:middle line:84%
is owned by the
equity corporation,

00:15:42.840 --> 00:15:49.830 align:middle line:84%
which is controlled by American
Export-Isbrandtsen Lines.

00:15:49.830 --> 00:15:53.250 align:middle line:84%
The combined net
worth of the family

00:15:53.250 --> 00:15:56.580 align:middle line:84%
is of the order of a quarter
of a billion dollars.

00:15:56.580 --> 00:16:00.390 align:middle line:90%


00:16:00.390 --> 00:16:04.320 align:middle line:84%
The Bell Intercontinental
equity and American

00:16:04.320 --> 00:16:08.540 align:middle line:84%
Export-Isbrandtsen, of course,
are all public companies.

00:16:08.540 --> 00:16:11.970 align:middle line:84%
We're listed on the New
York Stock Exchange,

00:16:11.970 --> 00:16:14.190 align:middle line:84%
equity is listed on
the American exchange,

00:16:14.190 --> 00:16:17.280 align:middle line:84%
American Export is
on the New York--

00:16:17.280 --> 00:16:18.760 align:middle line:90%
the big board.

00:16:18.760 --> 00:16:22.770 align:middle line:84%
So that everything we do,
including all our operating

00:16:22.770 --> 00:16:24.930 align:middle line:84%
figures, our
financials and whatnot,

00:16:24.930 --> 00:16:27.720 align:middle line:84%
are a matter of public
record, and we'd

00:16:27.720 --> 00:16:33.300 align:middle line:84%
be very happy to provide any
reports, balance sheets, and so

00:16:33.300 --> 00:16:35.170 align:middle line:90%
on and so forth of the family.

00:16:35.170 --> 00:16:37.020 align:middle line:84%
And there is also
complete disclosure

00:16:37.020 --> 00:16:41.700 align:middle line:84%
of the relationships of the
family of companies that exist.

00:16:41.700 --> 00:16:44.490 align:middle line:84%
Dr. Meissner, McDonald again
from Channel 4 in Seattle.

00:16:44.490 --> 00:16:48.360 align:middle line:84%
Following under your power
and your ownership answers,

00:16:48.360 --> 00:16:50.325 align:middle line:84%
the report that another
aluminum company wanted

00:16:50.325 --> 00:16:52.450 align:middle line:84%
to build a plant in Ferndale,
but the Northwest got

00:16:52.450 --> 00:16:54.763 align:middle line:84%
the power of
commitment from BPA,

00:16:54.763 --> 00:16:56.430 align:middle line:84%
and that those two
operations have since

00:16:56.430 --> 00:16:59.520 align:middle line:84%
merged and will build four,
not two plotlines on Guemes.

00:16:59.520 --> 00:17:00.886 align:middle line:90%
Is that correct?

00:17:00.886 --> 00:17:05.270 align:middle line:84%
It's the first I've
heard about it.

00:17:05.270 --> 00:17:08.550 align:middle line:84%
Dr. Meissner, Reynolds ran
into some pretty big lawsuits

00:17:08.550 --> 00:17:11.259 align:middle line:84%
in Oregon over the
emission of fluoride.

00:17:11.259 --> 00:17:13.009 align:middle line:84%
Do you anticipate that
your operating here

00:17:13.009 --> 00:17:15.369 align:middle line:90%
might face the same fate?

00:17:15.369 --> 00:17:17.940 align:middle line:84%
We do not because of the
system that we propose

00:17:17.940 --> 00:17:20.910 align:middle line:84%
to use to prevent the
emission of fluorides

00:17:20.910 --> 00:17:23.180 align:middle line:90%
in any significant quantities.

00:17:23.180 --> 00:17:25.710 align:middle line:84%
Dr. Meissner, you mentioned
bringing the alumina

00:17:25.710 --> 00:17:29.666 align:middle line:84%
off the barges or cargo
ships on a conveyor belt.

00:17:29.666 --> 00:17:31.610 align:middle line:90%
Is this an enclosed system?

00:17:31.610 --> 00:17:32.110 align:middle line:90%
Yes.

00:17:32.110 --> 00:17:35.400 align:middle line:84%
I've seen aluminum, and I know
how light and volatile it is.

00:17:35.400 --> 00:17:36.480 align:middle line:90%
It is a closed system.

00:17:36.480 --> 00:17:37.480 align:middle line:90%
And in a closed system--

00:17:37.480 --> 00:17:39.420 align:middle line:84%
Of necessity, it must
be, that's right.

00:17:39.420 --> 00:17:41.460 align:middle line:90%
It has to be.

00:17:41.460 --> 00:17:43.970 align:middle line:84%
We'd never get it up to
the storage tank otherwise.

00:17:43.970 --> 00:17:45.552 align:middle line:90%
[INAUDIBLE]

00:17:45.552 --> 00:17:48.200 align:middle line:84%
Dr. Meissner, you
mentioned there

00:17:48.200 --> 00:17:50.070 align:middle line:84%
will be some improvement
of transportation

00:17:50.070 --> 00:17:51.798 align:middle line:90%
so that you can get there.

00:17:51.798 --> 00:17:55.180 align:middle line:84%
Presently we have a small county
ferry running to the island.

00:17:55.180 --> 00:17:58.790 align:middle line:84%
Do you anticipate a
privately owned company ferry

00:17:58.790 --> 00:18:01.880 align:middle line:84%
or to stake aid in a
ferry system or what

00:18:01.880 --> 00:18:04.540 align:middle line:84%
to provide your
transportation for employees

00:18:04.540 --> 00:18:06.090 align:middle line:90%
and other equipment?

00:18:06.090 --> 00:18:11.220 align:middle line:84%
We do not anticipate a private
transportation facility.

00:18:11.220 --> 00:18:14.010 align:middle line:90%


00:18:14.010 --> 00:18:18.900 align:middle line:84%
We assume that either
the state or the county

00:18:18.900 --> 00:18:24.310 align:middle line:84%
will adjust the ferry
service to accommodate

00:18:24.310 --> 00:18:27.540 align:middle line:84%
the number of people or
traffic that will generate.

00:18:27.540 --> 00:18:30.570 align:middle line:84%
Historically, this is the
function of state governments

00:18:30.570 --> 00:18:34.005 align:middle line:90%
and county governments.

00:18:34.005 --> 00:18:35.130 align:middle line:90%
Adjust the rate of service?

00:18:35.130 --> 00:18:37.560 align:middle line:84%
Do you mean put on
additional vessels

00:18:37.560 --> 00:18:40.530 align:middle line:84%
or run this small
boat that much more?

00:18:40.530 --> 00:18:41.770 align:middle line:90%
I really don't know.

00:18:41.770 --> 00:18:43.946 align:middle line:90%
I can't answer that question.

00:18:43.946 --> 00:18:47.890 align:middle line:90%
[AUDIO OUT]

00:18:47.890 --> 00:18:52.820 align:middle line:90%


00:18:52.820 --> 00:18:56.630 align:middle line:84%
The answer to that question
is that the engineers

00:18:56.630 --> 00:19:00.140 align:middle line:90%
looked at a great many sites.

00:19:00.140 --> 00:19:03.890 align:middle line:84%
I honestly don't know whether
they're all in Skagit County

00:19:03.890 --> 00:19:07.670 align:middle line:84%
or not, although I know
that I looked at five myself

00:19:07.670 --> 00:19:10.190 align:middle line:84%
after they had
narrowed them down.

00:19:10.190 --> 00:19:18.150 align:middle line:84%
And we didn't just zero in
on a residential island.

00:19:18.150 --> 00:19:18.650 align:middle line:90%
We made--

00:19:18.650 --> 00:19:20.330 align:middle line:90%
Shannon Point was considered--

00:19:20.330 --> 00:19:22.470 align:middle line:84%
I don't know where
that is, frankly.

00:19:22.470 --> 00:19:24.500 align:middle line:84%
I can't answer that
question because I

00:19:24.500 --> 00:19:27.380 align:middle line:84%
don't know the location
that you're talking about.

00:19:27.380 --> 00:19:30.290 align:middle line:84%
Could you put Mr. Stripe at
the podium so we could ask him?

00:19:30.290 --> 00:19:33.590 align:middle line:90%


00:19:33.590 --> 00:19:34.810 align:middle line:90%
Surely.

00:19:34.810 --> 00:19:37.435 align:middle line:90%
Please.

00:19:37.435 --> 00:19:39.054 align:middle line:90%
Do you know what Shannon is?

00:19:39.054 --> 00:19:43.350 align:middle line:90%


00:19:43.350 --> 00:19:45.432 align:middle line:90%
Would you spell the--

00:19:45.432 --> 00:19:47.310 align:middle line:84%
Mr. Trecker from
Channel 12 again.

00:19:47.310 --> 00:19:50.870 align:middle line:84%
Was Ship Harbor Shannon
Point Industrial Site

00:19:50.870 --> 00:19:53.960 align:middle line:90%
pointed out to you?

00:19:53.960 --> 00:19:56.372 align:middle line:90%
Well, where is Ship Harbor?

00:19:56.372 --> 00:19:58.080 align:middle line:84%
It's right out near
the state ferry dock.

00:19:58.080 --> 00:20:00.640 align:middle line:90%


00:20:00.640 --> 00:20:02.060 align:middle line:84%
I don't think by
that name it was.

00:20:02.060 --> 00:20:03.740 align:middle line:84%
We saw one by the
state ferry dock, yes.

00:20:03.740 --> 00:20:06.770 align:middle line:84%
And we saw the one
over by your airport,

00:20:06.770 --> 00:20:10.027 align:middle line:84%
and I guess we saw
10 or 12 in the area.

00:20:10.027 --> 00:20:11.610 align:middle line:84%
But I don't recognize
it by that name.

00:20:11.610 --> 00:20:12.377 align:middle line:90%
That name is not--

00:20:12.377 --> 00:20:14.960 align:middle line:84%
Is that the site listed by the
Bonneville Power Administration

00:20:14.960 --> 00:20:16.890 align:middle line:84%
in its catalog of
industrial sites?

00:20:16.890 --> 00:20:18.170 align:middle line:90%
No.

00:20:18.170 --> 00:20:22.670 align:middle line:84%
May I answer this question,
and yours, too, in a sense?

00:20:22.670 --> 00:20:25.580 align:middle line:84%
I think if you'll check
the Bonneville Power

00:20:25.580 --> 00:20:31.250 align:middle line:84%
Administration's policy,
you'll find that their,

00:20:31.250 --> 00:20:35.180 align:middle line:84%
and I think properly and
appropriately, their policy

00:20:35.180 --> 00:20:39.320 align:middle line:84%
is to provide power
where industry determines

00:20:39.320 --> 00:20:44.420 align:middle line:84%
it is most economic for industry
to locate and not to try

00:20:44.420 --> 00:20:50.450 align:middle line:84%
to direct industry into a
particular county, community,

00:20:50.450 --> 00:20:52.010 align:middle line:90%
or state.

00:20:52.010 --> 00:20:56.330 align:middle line:84%
They would be subject to
all sorts of pressures

00:20:56.330 --> 00:20:59.150 align:middle line:84%
and criticism if
they did attempt

00:20:59.150 --> 00:21:04.490 align:middle line:84%
to use their ability to provide
power to favor one area as

00:21:04.490 --> 00:21:06.560 align:middle line:90%
distinct from another.

00:21:06.560 --> 00:21:12.900 align:middle line:84%
Now, I have never seen this
survey that you mentioned.

00:21:12.900 --> 00:21:19.060 align:middle line:84%
Bonneville, if it has a
survey, as apparently it has,

00:21:19.060 --> 00:21:24.180 align:middle line:84%
were very careful not to attempt
to influence us in any way.

00:21:24.180 --> 00:21:28.250 align:middle line:84%
This is a policy that
they've gone so far

00:21:28.250 --> 00:21:32.120 align:middle line:84%
to encourage that they have the
so-called postage stamp rate.

00:21:32.120 --> 00:21:36.120 align:middle line:90%
[AUDIO OUT]

00:21:36.120 --> 00:21:46.750 align:middle line:90%


00:21:46.750 --> 00:21:49.200 align:middle line:84%
--a way to avoid
communicating with us,

00:21:49.200 --> 00:21:53.016 align:middle line:84%
talking about such things as
maybe you'll have a ferry.

00:21:53.016 --> 00:21:56.236 align:middle line:84%
Isn't it time you told these
people something definite?

00:21:56.236 --> 00:21:57.640 align:middle line:90%
This is where they live.

00:21:57.640 --> 00:21:59.670 align:middle line:84%
You're going to take
away probably a fifth

00:21:59.670 --> 00:22:00.877 align:middle line:90%
of their island.

00:22:00.877 --> 00:22:02.900 align:middle line:84%
You'll definitely destroy
what has now become

00:22:02.900 --> 00:22:04.860 align:middle line:90%
known as their way of life.

00:22:04.860 --> 00:22:06.850 align:middle line:84%
It would change
everything for them.

00:22:06.850 --> 00:22:11.310 align:middle line:84%
Isn't it time that you told
these people where they stand?

00:22:11.310 --> 00:22:14.450 align:middle line:84%
Mr. Woodgate, I think
that from now on, yes,

00:22:14.450 --> 00:22:16.430 align:middle line:84%
there can be and
will be and should

00:22:16.430 --> 00:22:18.560 align:middle line:84%
be communications
with the peoples

00:22:18.560 --> 00:22:21.290 align:middle line:90%
of the island and Anacortes.

00:22:21.290 --> 00:22:23.310 align:middle line:84%
I don't think there's
any question about it.

00:22:23.310 --> 00:22:26.280 align:middle line:84%
As plans materialize,
I believe from now on,

00:22:26.280 --> 00:22:28.820 align:middle line:84%
they will be
immediately informed.

00:22:28.820 --> 00:22:32.240 align:middle line:84%
But I think you also understand,
I'm sure all of you do,

00:22:32.240 --> 00:22:35.480 align:middle line:84%
that when you're deciding
on a plant location,

00:22:35.480 --> 00:22:38.270 align:middle line:84%
you do not go around
publicizing it.

00:22:38.270 --> 00:22:41.720 align:middle line:84%
There are too many reasons
and logical reasons

00:22:41.720 --> 00:22:44.260 align:middle line:90%
that you just do not do that.

00:22:44.260 --> 00:22:45.860 align:middle line:84%
There are too many
things that can

00:22:45.860 --> 00:22:49.700 align:middle line:84%
get started in the newspapers
that are erroneous,

00:22:49.700 --> 00:22:52.314 align:middle line:84%
probably some of them
have happened up here.

00:22:52.314 --> 00:22:55.280 align:middle line:84%
Could I follow up
that question and say,

00:22:55.280 --> 00:22:57.720 align:middle line:84%
what do you intend
to do to break down

00:22:57.720 --> 00:23:01.690 align:middle line:84%
this unfriendly attitude
that now exists?

00:23:01.690 --> 00:23:03.440 align:middle line:84%
I don't think we'll
have to break it down.

00:23:03.440 --> 00:23:04.850 align:middle line:90%
There are two or three things.

00:23:04.850 --> 00:23:08.690 align:middle line:84%
One, I think you're wrong in
the statistics you've quoted.

00:23:08.690 --> 00:23:11.600 align:middle line:84%
We understand that over half
of the residents of the island

00:23:11.600 --> 00:23:16.700 align:middle line:84%
have signed a petition that they
would like to have us there.

00:23:16.700 --> 00:23:20.710 align:middle line:84%
I don't know what the count
is or anything about it

00:23:20.710 --> 00:23:23.630 align:middle line:84%
other than I have been
informed that over half

00:23:23.630 --> 00:23:25.880 align:middle line:90%
have signed such a petition.

00:23:25.880 --> 00:23:30.180 align:middle line:84%
Whether that is true or whether
it's now 3/4, I don't know.

00:23:30.180 --> 00:23:33.410 align:middle line:84%
But I do know this, that
once they become informed,

00:23:33.410 --> 00:23:37.160 align:middle line:84%
that we are going to be
a responsible citizen

00:23:37.160 --> 00:23:42.050 align:middle line:84%
of the island, and in Anacortes
that they'll be very happy.

00:23:42.050 --> 00:23:45.660 align:middle line:84%
I don't see any deterioration
of their way of life at all.

00:23:45.660 --> 00:23:48.380 align:middle line:84%
If anything, an
enhancement of it.

00:23:48.380 --> 00:23:48.980 align:middle line:90%
Yes, sir?

00:23:48.980 --> 00:23:51.230 align:middle line:84%
Duane Trecker of
Channel 12, sir.

00:23:51.230 --> 00:23:53.090 align:middle line:84%
Weren't you warned
ahead of time that this

00:23:53.090 --> 00:23:56.580 align:middle line:84%
might be like stepping on
a hornet's nest to step out

00:23:56.580 --> 00:23:57.470 align:middle line:90%
[INAUDIBLE]?

00:23:57.470 --> 00:23:58.370 align:middle line:90%
I never was.

00:23:58.370 --> 00:24:01.280 align:middle line:90%
I don't know.

00:24:01.280 --> 00:24:05.170 align:middle line:84%
The only thing that I was
somewhat apprehensive about

00:24:05.170 --> 00:24:10.010 align:middle line:84%
was that an island
just doesn't sound

00:24:10.010 --> 00:24:12.060 align:middle line:90%
like the place for industry.

00:24:12.060 --> 00:24:15.920 align:middle line:84%
And we were somewhat
concerned about what

00:24:15.920 --> 00:24:18.080 align:middle line:84%
the financial institutes
might think of it,

00:24:18.080 --> 00:24:20.780 align:middle line:84%
but they, after seeing
engineering studies,

00:24:20.780 --> 00:24:25.480 align:middle line:84%
are very happy, too, as we think
the residents will be happy.

00:24:25.480 --> 00:24:42.407 align:middle line:90%