Friday, February 25, 2011
By Penny Starr
(CNSNews.com) – A new study says drilling on Alaska’s 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-Anchorage’s Institute of Social and Economic Research — says that developing Alaska’s 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 country’s energy and economic needs.
Read more at CNS News