Skip to comments.New Study Shows That Offshore Drilling Could Make Alaska the Eighth Largest Oil Producer in...
Posted on 02/25/2011 9:45:59 AM PST by jazusamo
Complete title: New Study Shows That Offshore Drilling Could Make Alaska the Eighth Largest Oil Producer in the World Ahead of Libya and Nigeria
(CNSNews.com) A new study says drilling on Alaskas Outer Continental Shelf (OCS) could make Alaska the eighth largest oil resource province in the world -- ahead of Nigeria, Libya, Russia and Norway.
The report -- by the consulting firm Northern Economics and the University of Alaska-Anchorages Institute of Social and Economic Research -- says that developing Alaskas OCS could produce almost 10 billion barrels of oil and 15 trillion cubic feet of natural gas, create around 55,000 new jobs and produce $145 billion in new payroll nationally, generating a total of $193 billion in government revenue through the year 2057.
A senior policy advisor with the American Petroleum Institute, the trade group for hundreds of U.S. oil and gas producers, said in a statement about the study that offshore drilling for oil and natural gas can help with the countrys energy and economic needs.
America will need all forms of energy to get our economy back on track, and that includes oil we can either produce it here and create more American jobs or import it and create jobs elsewhere, Richard Ranger said. The administration and Congress need to adopt an all of the above energy approach that leverages our offshore resources in Alaska to create an energy plan for America that boosts, rather than inhibits, our economy.
About 77 percent of world oil reserves are owned or controlled by national governments and the U.S. currently imports over 60 percent of its crude oil, according to API. The Northern Economics-University of Alaska study estimates that Arctic offshore development could cut U.S. imports by about 9 percent over 35 years.
Crude oil prices in New York broke through the $100-a-barrel threshold on Thursday, with rising prices linked to the unrest in the Middle East, including Libya and its vast oil reserves.
The Washington Post reported on Thursday that U.S. pump prices for regular gasoline jumped 4 cents a gallon overnight to $3.23, an 8-cent-per-gallon increase in the past week and 55 cents more than a year ago.
Given the current political turmoil in the Middle East and increased demand from a slowly growing economy, it is more essential now than ever before that we develop Alaskas OCS to increase domestic production, Ranger said. 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.
Isn’t Alaska close to Siberia? Would Obama protect our off-shore assets from Soviet poaching? It would be for the environment, after all.
Then it’s time to start drilling without permits.
But according to the Democrats drilling in Alaska would hurt the penguins!
Drill baby drill
Agreed. Alaska needs to tell him to get screwed.
We've had the liberal enviros against it and we've had the Murkowski-types against it (who fight for existing oil companies in Alaska who want to keep their fiefdoms), but Alaska will end up prospering with ANWR drilling in the end.
Exactly...Drilling companies should be issued permits by Alaska and when we elect a sane president with a realistic administration retroactive permits can be issued if necessary.
When globull warming gets rid of the ice sheets, it will be just like drilling in the Gulf of Mexico.
Just do it. Then dare soetoro to stop it.
I agree that it’ll happen.
It needs to be started like now though because of the turmoil in the world.
It’s not just a matter of economics but of national security.
Start the process now, Alaska!
Obama must stand fast in his opposition to drilling for oil anywhere in the USA. Do you realize what would happen if the evil oil giants were turned loose?
America would have a fuel source totally free from the influence of nations that hated us. American WORKERS would be gainfully employed at American wages. Local businesses would grow, requiring more and more local workers. Unemployment rolls would rapidly decrease, lessening the need for government trolls. Tax revenues would skyrocket as energy companies paid their corporate taxes and their employees paid THEIR taxes, and the businesses paid THEIR taxes. Demand would increase, employment would increase, and the American people could return to their “normal” lives. This cannot be allowed to happen.
If you agree with the above...seek help ASAP
“Alaskas OCS could produce almost 10 billion barrels of oil and 15 trillion cubic feet of natural gas...”
Is that annually?
So if offshore drilling makes Alaska the 8th largest oil producer in the world, what would a combination of offshore AND onshore drilling do... make it The Largest?
As soon as the Butt-head in OUR White House is gone!
I don’t think that the practice of permitting drilling is constitutional. We should just ignore that requirement. /s
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.