Opinion: Fracking could fuel Alaska’s next oil boom

marketwatch.com ^ | Apr 18, 2017 1:37 p.m. ET | By Scott L. Montgomery

[Ernest_at_the_Beach]

Over the past year oil companies have discovered five billion barrels or more of recoverable oil on Alaska’s North Slope

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Varios prices by trading time. of day

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Fracking has been utilized in Alaska since the 1980s, but on a small scale. An earlier version said this would be the first time fracking is used in Alaska.

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Arctic lands and waters hold irresistible allure for global oil companies. Despite opposition from environmental groups and President Obama’s 2016 ban on drilling in federal Arctic waters, exploration in Alaska has revealed massive new volumes of oil.

This comes at a time of low oil prices

CLK7, -0.02%

when many observers felt the Arctic would remain off limits. Alaska has proved precisely the opposite. Although it has gone largely unnoticed outside the industry, foreign firms are partnering with American companies to pursue these new possibilities. I expect this new wave of Arctic development will help increase U.S. oil production and influence in world oil markets for at least the next several decades.

[Ernest_at_the_Beach]

fyi

[Gamecock]

If only the POTUS would allow drilling in Alaska.

Oh. Wait.

WINNING!

[dhs12345]

Now way. Have to maintain the environmentalists agenda of starving the American people of energy so that they will use less. We cannot make energy plentiful and cheap. No.no.no!/sarc

[WakeUpAndVote]

FRACK the caribou!

[Ernest_at_the_Beach]

The Authors closing comment:

This new wave of Arctic development will help increase U.S. oil production and influence in world oil markets for at least the next several decades.

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Take that RUSSIA!!!!

[Ernest_at_the_Beach]

Merci,....Merci!!!

[dhs12345]

The benefits are more than just cheap energy to heat and light our homes. We'll hurt our enemies economically, too. Good point!

A win-win!

[Ernest_at_the_Beach]

Sell your Tesla stock too!

[KC_Lion]

Alaska Ping!

[dhs12345]

Don’t have any.

On the other hand, how would we charge our Teslas without plentiful fracked nat gas? Wind and solar are not going to cut it.

[Ernest_at_the_Beach]

Related thread:

Trump prepares to overturn Obama’s limits on offshore oil drilling

WINNING!!!!

[Ben Ficklin]

Shell went up and drilled the arctic when oil was a $100/barrel. But after the price of oil collapsed in 2015 they abandoned that lease that they bought from Bush and made monthly lease payments on. It was after they abandoned that lease that Obama put the moratorium on it, but Trump removed it.

Don't look for anyone to go up there and drill unless the price of oil goes up to 100-150.

And if the price goes up to 100-150, you should buy Tesla stock.

[Ernest_at_the_Beach]

See Link at #12.

[IC Ken]

It is at a break even point at $50.00 a barrel. Just a little nudge to $60 will get it rolling again.

[Ben Ficklin]

no it won’t. The lifting price in the arctic ocean is much, much higher than $50

[353FMG]

Judging by how slow the oil price has moved since 2015, I doubt that we will ever see $60/bbl any time soon.

[353FMG]

Judging by how slow the oil price has moved since 2015, I doubt that we will ever see $60/bbl any time soon or ever again.

[Tucker39]

Somebody help me out here. All the fracking and newly discovered oil deposits was ballyhooed as a guarantee of lower gasoline prices. Well, the price of Regular here in Pennsyltucky just jumped to $2.55 per gallon. Yes, PA has high taxes, but that was already figured in. Gas prices in Maryland and Delaware, which used to be 20 cents cheaper have jumped right up to nearly the same price as PA. We’re being played.

[Ernest_at_the_Beach]

Did the taxes change?

Here in California the State just raised taxes by 12 cents I believe.