Alaska Energy Production Rebound

Sep 30, 2017

The Interior Secretary believes that increasing oil production in Alaska will “be a major part of the Trump administration’s plan for U.S. ‘energy dominance.’” “The road to energy dominance goes through the great state of Alaska,” said Secretary Since. Recently the Interior Department sold offshore drilling rights in Alaska for $3 million. With increased production, Alaska could rebound as a major oil producer. The National Petroleum Reserve-Alaska (NPR-A) is estimated to hold 895 million barrels of oil and 52.8 trillion cubic feet of natural gas. In 2016 an oil field was found “on Alaska’s norther coast. It is estimated to hold as much as 6 billion barrels of oil. Congress opened the the NPR-A to oil and gas production, but the Obama administration designated 22.8 million acres as off-limits to drilling. The Trans-Alaska Pipeline would stand to benefit from increased oil production. Its capacity has fallen 39 percent over the last decade. If production does not increase, the pipeline could be closed as early as 2026.