Parnell: What’s the Hold-Up on Alaskan Oil?

“My state’s ANWR region could produce one million barrels of oil per day if only Washington let us.”

Alaska Gov. Sean Parnell writes in the Wall Street Journal:

… Twenty-five years ago, the U.S. Department of the Interior recommended that Congress open up this area for oil and gas development. Yet year after year, Washington has blocked Alaska from delivering America’s oil to Americans, even as the Energy Department calculates that for every barrel produced from ANWR, one less barrel of imports would be needed.

The federal government must drop these roadblocks…

ANWR oil—more than 10 billion barrels of it—is accessible. It’s extractable. Yet we wait. Ignoring promising domestic production means willingly accepting a steady diet of foreign oil. That’s exactly what’s happening.

At peak production, ANWR could supply the U.S. with up to 1.45 million barrels of oil per day. Over 10 years, it could produce a sustained rate of one million barrels per day.

We have a world-class pipeline ready to assist with delivery. We currently ship slightly more than 600,000 barrels of oil a day through the Trans Alaska Pipeline, but that figure once stood at two million per day.

With oil from ANWR in the Trans Alaska Pipeline, oil producers could develop nearby fields that otherwise might not be economically feasible.

Read the entire commentary.

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