Alaska Ping!
Drill Baby, Drill
Posted on 06/06/2017 8:56:23 AM PDT by Kaslin
On his recent visit to Alaska, Interior Secretary Ryan Zinke began laying the groundwork to open the 3% of the Arctic National Wildlife Refuge contained in Area 1002 to oil development. He ordered a new assessment of the area's potential oil reserves.
The most recent comprehensive study by the United States Geological Survey was completed in 1998, and its mean estimate of recoverable reserves in Area 1002 was 7.7 BBO (billion barrels of oil). At $45 a barrel, that's $346 billion. Most of this oil lies in the western portion, near the terminus of the Trans Alaska Pipeline at Prudhoe Bay.
Development of Area 1002 alone would fill the Alaska pipeline, currently running at 25% of capacity, for a minimum of 10-15 years. Additional development of the National Petroleum Reserve, Alaska could add as much or more. And recall that this USGS survey is 19 years old. The new, revised numbers could be eye-popping.
The impact of this development on the state of Alaska would rival that of Prudhoe Bay itself. Revenue to the state would soar. Instead of raiding its Permanent Fund, Alaska could add billions to its principal. Employment would rise, and property values would recover. It would be a boon to Alaska and its people.
But isn't the world awash in crude? The shale revolution shows no sign of slowing down, and Russia and Saudi Arabia are cutting production in a bid to stabilize prices. Who needs Alaska oil?
As Secretary Zinke said in Anchorage, the United States seeks not energy independence, but energy dominance. This can be achieved by using American oil as a tool of foreign policy, as it has been for a hundred years.
(Excerpt) Read more at americanthinker.com ...
Alaska Ping!
Drill Baby, Drill
I worked at Prudhoe Bay when at least one delineation well was directionally drilled into the ANWR formation from offshore near the little village of Kaktovik. My boss’s husband was the drilling supervisor on that project. Shortly thereafter I asked him what was found. Of course, he was bound by a confidentiality agreement and all he would say: “It was pretty good.”
Sweet music to my ears
Energy Dominance
and all of the downstream activities
Steel
Construction
Electricity
Petrochemicals
Natural gas.
Jobs and more jobs.
Not to mention, getting China off of its coal habit.
China needs oil and gas, either produced or imported, to improve their (and world) quality of life.
America has the resources to accomplish this, almost uniquely.
Also reminds me, that stupid SOB has been a professional politician for 40 years!
Not-So-Good News - In 2016, the USA consumed 7.2 billion barrels of oil
Do you realize that there are many things that are made out of oil, not just gasoline?
Drill baby drill!
Re: Do you realize that there are many things that are made out of oil, not just gasoline?
Of course.
My point is that 7.7 billion barrels is a lot of oil, but we use that much EVERY year.
Says a lot about the voters in DE for his years in the Senate, doesn’t it?
You bring up a good point. Even by the ridiculous “standards” of the Paris Climate BS Agreement, we should get huge “carbon credit” for helping China use less coal.
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