Alaskan Oil Returns With A Vengeance

After years of steady decline in production and bottomed-out
oil prices, Alaska is in a rough spot. They’re over a billion
dollars in debt, in large part thanks to unfulfilled cash
incentives to oil companies, and now many of their remaining oil
producers are pulling out at the same time that the North Slope and
Cook Inlet oil fields face thousands of layoffs. Over the last
three decades the Trans-Alaska Pipeline System, which peaked back
in 1988, has been steadily draining. Where 2.1 million barrels oil
once flowed through daily, now 500,000…

After years of steady decline in production and bottomed-out
oil prices, Alaska is in a rough spot. They’re over a billion
dollars in debt, in large part thanks to unfulfilled cash
incentives to oil companies, and now many of their remaining oil
producers are pulling out at the same time that the North Slope and
Cook Inlet oil fields face thousands of layoffs. Over the last
three decades the Trans-Alaska Pipeline System, which peaked back
in 1988, has been steadily draining. Where 2.1 million barrels oil
once flowed through daily, now 500,000…