He expected oil prices would spike so he could profit from the sale of oil and gas futures he intended to purchase.
A citizen of Canada was sentenced Thursday to 13 years in prison for plotting to blow up the Trans-Alaska oil pipeline, Associated Press reported.
Alfred Heinz Reumayr was arrested in August, 1999, and all the time has spent in custody, so he will have to serve only four more years.
Prosecutors say he planned a series of explosions along the Trans-Alaska Pipeline System in early January, 2000. He expected oil prices would spike so he could profit from the sale of oil and gas futures he intended to purchase.
The plot was broken up after a co-conspirator went to authorities.
“His motivation in doing it was to play the futures market so that after the pipeline blew up and the price of oil increased he could make whatever profit on it,” assistant U.S. attorney Steve Yarbrough said.