Posted on 03/12/2017 8:32:52 AM PDT by rktman
Some 1.2 billion barrels of oil have been discovered in Alaska, marking the biggest onshore discovery in the U.S. in three decades.
The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices.
The new discovery was made in just the past few days in Alaska’s North Slope, which was previously viewed as an aging oil basin.
Spanish oil giant Repsol and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day.
The oil resources lie in a well, called Horseshoe, that’s 75% owned by Denver-based Armstrong. Repsol owns the rest of this well.
(Excerpt) Read more at ktla.com ...
I'm sure Jay will see this decide that we need a new gas tax for a monorail around the U-district. Or pay for his next move to where he can get elected next.
Ed
Roughly 20%.
Here in PA we have the highest gas taxes AND the worst roads in the nation. Our politicians are uniquely horrible!
$0.23-0.24/gal converted to US silver coinage, so it’s as cheap as it’s ever been...
You pay sales tax on gasoline in CA too, so for every $1/gal the state gets another ~$0.025 in tax.
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