Good for Alaska
Alaska's rich history of oil and gas development traces back to the early 1970s, when oil reserves were discovered at Prudhoe Bay on the North Slope of Alaska.
This supply came online in 1977, providing a much-needed boost to American energy supply in the midst of a decline in petroleum production in the Lower 48 states. By the mid-1980s, the Alaskan North Slope was supplying about a quarter of U.S. oil production.
In the decades that followed, with continued production and new technology, the estimates of recoverable oil in Prudhoe Bay continued to increase. At the same time, the oil and gas industry began to discover new energy resource potential in three areas adjacent to Prudhoe Bay — the Arctic National Wildlife Refuge (ANWR) to the East, the National Petroleum Reserve – Alaska (NPR-A) to the West, and the offshore areas to the North.
The development of oil and gas resources in Alaska’s OCS could produce almost 10 billion barrels of oil and 15 trillion cubic feet of natural gas – creating an annual average of almost 55,000 new jobs and $145 billion in new payroll nationally, as well as a total of $193 billion in government revenue through the year 2057.
In addition increased OCS production in Alaska would also extend the operating life of the 800-mile Trans-Alaska Pipeline System (TAPS), a critical lifeline of domestic energy for America.
Safely tapping these vast energy resources would provide Alaska with the opportunity to generate new jobs and new tax revenue for our state, as well as help lead the charge to secure America's energy security.
It's good for Alaska.