ALASKA JOURNAL OF COMMERCE March 12, 2015
Alaskans have long believed oil discovered in the coastal plain of the Arctic National Wildlife Refuge could help keep the Trans-Alaska Pipeline System operating and also replenish the state treasury.
It may be a pipe dream because the federal government shows no sign of opening the coastal plain to further exploration and Congressional approval is required for any exploratory drilling or leasing.
Interior Secretary Sally Jewell, who denied the State of Alaska’s proposal for new seismic exploration of the ANWR coastal plain and is awaiting the outcome of a court case challenging that decision, wants to make it wilderness, a permanent lockup.
But what if? What if there were exploration, and discoveries? How much oil could there be? State officials told legislators in February the revenue to the state treasury could total more than $150 billion over 50 years.