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Article: Alaska's oil potential rides on sensible lease policy.
- Article from:
- The Oil Daily
- Article date:
- July 17, 1985
- Author:
CopyrightCOPYRIGHT 1985 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IT IS important to recognize that Alaska's offshore oil and gas potential is unique and probably of greater important to our future domestic oil supply than any other region of the United States.
The reason for this importance is a function of both size and geology. The outer continental shelf adjacent to Alaska represent 75 percent of the total area of U.S. offshore lands and much of it has good potential for discovery of oil and gas reserves.
Today Alaska produces from both onshore and offshore fields 18 percent of the U.S. domestic oil production, most of which comes from the giant Prudhoe Bay field on the North Slope.
The favorable geology ...