Report on Alaska benefits and costs of exporting Alaska North Slope crude oil



Publisher: The Committee in Anchorage

Written in English
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Edition Notes

StatementInstitute of Social and Economic Research, University of Alaska, Anchorage, for the Alaska State Senate Finance Committee ; investigators: Matthew D. Berman ... [et al.].
ContributionsBerman, Matthew D., University of Alaska Anchorage. Institute of Social and Economic Research., Alaska. Legislature. Senate. Finance Committee.
Classifications
LC ClassificationsMicrofiche 92/416 (H)
The Physical Object
FormatMicroform
Pagination1 v. (various pagings)
ID Numbers
Open LibraryOL1669909M
LC Control Number91622968

1 of 4 U.S. Sen. Lisa Murkowski, R-Alaska, is pushing for oil exports as the head of the Senate Energy and Natural Resources Committee. (AP Photo) Photo: Becky Bohrer, STF.   The March grounding of the tanker vessel Exxon Valdez on Bligh Reef in Prince William Sound spilled nearly 11 million gallons of North Slope crude oil that ultimately contaminated some 1, miles of Alaska’s coastline. It affected three national parks, four national wildlife refuges, a national forest, five state parks, four state. Most of the oil from Alaska comes from North Slope oil fields developed in the s; much of the recoverable oil there has been extracted. Although in , Washington imported about $8 billion in crude oil from Alaska, up from $ billion the year before, much of that rise was from the increase in the price of oil.   The original Prudhoe is a small village with a medieval castle on the south bank of the Tyne, in the northeast of England. It lies in a coal-mining region within five miles of Prudhoe Colliery, where there were, over time, an additional mines and pits and five working seams of coal in the s. Not in itself out of the ordinary, but by Prudhoe had given its name to a region in Alaska.

  Safe, environmentally sound oil drilling has been done on the North Slope of Alaska for 40 years. Drilling in the small area designated as in ANWR (not ALL of ANWR) will be even safer, and contrary to a few critics, will make the U.S. less dependent on foreign oil in a relatively short time. @article{osti_, title = {Economics of Alaska North Slope gas utilization options}, author = {Thomas, C P and Doughty, T C and Hackworth, J H and North, W B and Robertson, E P}, abstractNote = {The recoverable natural gas available for sale in the developed and known undeveloped fields on the Alaskan North Slope (ANS) total about 26 trillion cubic feet (TCF), including 22 TCF in the. the project by the Alaska Industrial and Export Authority will be repaid by proceeds of the USDA conservative financial management practices to offset significant revenue volatility linked to oil production from the North Slope and global petroleum price trends. For many years, the state the steep drop in crude oil prices beginning in.   The Standard Oil Company (Ohio), which has the largest single interest in Prudhoe Bay's proven reserves of billion barrels, wants to unload the oil at Long Beach, Calif., for pipeline relay to.

In early , as world oil prices tumbled below $50 per barrel, Alaska had two aces up its sleeve that seemed to offer hope for the state's petroleum-dependent economy.   Exxon said yesterday that about 10 percent of the crude it had access to went to other companies. That translates into slightly more than , barrels a day, or about 1 percent of all the oil. ANCHORAGE, Alaska, Oct. 26, (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the "Company") today reported net income of $ million, or $ per diluted share.

Report on Alaska benefits and costs of exporting Alaska North Slope crude oil Download PDF EPUB FB2

REPORT ON ALASKA BENEFITS AND CosTs OF ExPORTING ALAsKA NoRTH SLOPE CRUDE OIL INVESTIGATORS Matthew D. Berman Susan R. Fison Arion R. Tussing Samuel A. VanVactor Institute of Social and Economic Research University of Alaska Anchorage Providence Drive Anchorage, Alaska (90 7) PREPARED FoR Alaska State Senate Finance Committee.

The probable effects of exporting ANS crude will be to -- increase the price of ANS crude at the wellhead and, 1GAO previously analyzed these issues in the report Pros and Cons of Exporting Alaskan North Slope Oil (GAO/NSIAU, Sept. 26, ). A June DOE study, Exporting Alaskan North Slope Crude Oil—Benefits and Costs, found that exporting Alaska crude would increase producer receipts for both California and Alaska oil.

The increased producer receipts would be the result of transportation savings realized by avoiding a trip through the Panama Canal. Present legislation effectively bans the export of crude oil produced in the United States.

The ban has been in effect for years and is particularly stringent with respect to crude oil produced in Alaska, particularly on the North Slope.

The Alaska crude export ban is specifically provided for in. The state's number-crunchers predicted in early April that oil revenue would drop by $ million, to a level of nearly $ billion, as long as Alaska North Slope crude averaged $ a barrel. @article{osti_, title = {Impact of Expanded North Slope of Alaska Crude Oil Production on Oil Flows in the Contiguous United States (Summary)}, author = {DeRosa, Sean e.

and Flanagan, Tatiana Paz}, abstractNote = {Crude oil produced on the North Slope of Alaska (NSA) is primarily transported on the Trans-Alaska Pipeline System (TAPS) to in-state refineries and the Valdez Marine Terminal.

In addition, the ACRL would reduce the cost for an Alberta rail extension that would enable transport of crude oil to tidewater for export to Asia. Development of Alaska’s North Slope will also benefit from the ACRL providing a lower cost for shipment of equipment, machinery, construction materials and supplies required for both construction.

Inthe Department of Energy did a study, "Exporting Alaskan North Slope Crude Oil-Benefits and Costs", and the finding was that exporting crude oil from Alaska would increase cash flows for producing companies for California and Alaska oil.

Elizabeth Harball is a reporter with Alaska's Energy Desk, covering Alaska’s oil and gas industry and environmental is a contributor to the Energy Desk’s Midnight Oil podcast series.

Alaska has vast energy resources. Major oil and gas reserves are found in the Alaska North Slope (ANS) and Cook Inlet basins. According to the Energy Information Administration, Alaska ranks second in the nation in crude oil e Bay on Alaska's North Slope is the highest yielding oil field in the United States and on North America, typically producing aboutbarrels per.

Alaska has Oil – but Higher Taxes Leads to Less Produced • Prudhoe Bay remains one of the largest oil field in North America, with four of the top 10 producing oil fields existing on the North Slope. • Alaska’s waters are believed to contain more than 30 percent of the.

A flow line curves above the horizon on the western North Slope. (Elizabeth Harball/Alaska’s Energy Desk) Oil prices fluctuate regularly. But right now, there is one consistent trend.

North Slope crude oil is displacing Midd!e East crude oil imports into the West Coast and it improved our balance-of-payments in excess of S billion during Because of refinery configurations and environmental re- ruirements to impurt Indonesian type crude oils, North Slope crude oil will continue to.

Last week, the estimated value of a barrel of North Slope crude dropped to an unprecedented negative $ and crawled back to $ by.

The ban has been in effect for years and is particularly stringent with respect to crude oil produced in Alaska, particularly on the North Slope. The Alaska crude export ban is specifically provided for in the Trans-Alaska Pipeline Authorization Act of and in other legislation.

It was imposed for two reasons. Authorization Act of which effectively ban export of North Slope oil to forei n countries. If export were permitted, Alaska oil, currently shipped to the U.S. Gulf and East coasts, would probably be exported to Japan and other Pacific Rim markets.

Should this occur, the Jones Act would not affect Ala ka oil shipments outside the U.S. Crude. exporting Alaskan North Slope oil now and attempts to focus on the key issues and to put them in the appropriate context. Alaska presently produces about million barrels of crude oil a day (b/d) from the North Slope.

The West Coast con- sumes aboutb/d of that oil. The export debate revolves. for crude oil from the North Slope of Alaska and in laws limiting distribution of that oil. possible changes include relaxation or repeal of existing export restrictions.

The Federal Trade Commission's Bureaus of Economics, Competition, and Consumer Protection are pleased to respond to this request. Alaska North Slope Crude Oil First Purchase Price is at a current level ofup from last month and down from one year ago.

This is a change of % from last month and. The Department of Revenue believes the long-term average price for Alaska North Slope crude oil will be $22 a barrel, a significant boost from the $17 to $18 average of the s and s.

We don't take this forecast lightly, and we know there are many who will disagree with our assessment of world oil. Ma The foot tanker Exxon Valdez runs aground on Bligh Reef 25 miles south of Valdez, Alaska, spilling nearly 11 million gallons of North Slope crude oil.

Conoco has coined a phrase for the industry’s goal in Alaska’s Western Arctic: “The North Slope Renaissance.” Oil was discovered near Nuiqsut in the s, and the first major project. within the ten year forecast period, based on fundamental analysis of the structure of oil markets.

For FYtotal crude oil production in the State of Alaska for the North Slope and Cook Inlet areas averagedbarrels per day. This is 27, barrels per day less than in FY North Slope. Alaskan crude oil and crude oils produced on the West Coast, including Elk Hills oi A bill has recently been introduced to lift the ban on exporting Alaska North Slope crude oil.

-- Second, because of the requirement that no one buyer can purchase more than 20 percent of Elk Hills oil, buyers'. Executive's book examines Alaska oil costs and benefits FAIRBANKS -- On the first page of "The Last Alaskan Barrel," John M. Miller rather boldly declares that, "If oil companies had known at financing what they know today about prices, costs and taxes, they would never have developed Alaskan oil Reviews: Prudhoe Bay Oil Field is a large oil field on Alaska's North is the largest oil field in North America, coveringacres (86, ha) and originally containing approximately 25 billion barrels ( × 10 9 m 3) of oil.

The amount of recoverable oil in the field is more than double that of the next largest field in the United States by acreage (the East Texas oil field), while the. @article{osti_, title = {Federal policies affecting the wellhead value of Prudhoe Bay crude oil.

A report to the Alaska legislative council's subcommittee on oil and gas leasing and taxing policies, ninth Alaska state legislature}, author = {Tussing, A.}, abstractNote = {Markets for North Slope crude; FEA price ceilings and Prudhoe Bay crude oil prices; entitlements treatment of North.

f Exports to Canada of oil sourced from Alaska’s North Slope and transported over the Trans-Alaska Pipeline, up to an average of 50, bpd; f Exports of oil from the Strategic Petroleum Reserve if an equivalent amount of refined product is exchanged in return; f Exports of foreign crude oil if documentation is provided showing it.

The revenue forecast is based on an Alaska North Slope (ANS) oil price of $ per barrel for FY and $ per barrel for FY The forecast oil price is less than the last several years.

North Slope oil production declined % in FY to an average of thousand barrels of oil. It would appear possible to tie Alaska into the North American grid – China in January powered up a 2, mile UHV line – but there has been little talk of UHV in Alaska despite North Slope oil companies and the state sitting on vast and, at this point unusable, supplies of natural gas on the North Slope.

At prices near zero, North Slope producers are losing an average of more than $30 on each barrel and oil royalty and production tax revenue to the State of Alaska is nonexistent.The Prudhoe Bay oil spill ( Alaskan oil spill) was an oil spill that was discovered on March 2, at a pipeline owned by BP Exploration, Alaska (BPXA) in western Prudhoe Bay, l estimates of the five-day leak said that up toUS gallons (6, bbl) were spilled over acres (7, m 2), making it the largest oil spill on Alaska's north slope to date.The Alaska North Slope region includes the National Petroleum Reserve–Alaska, with the bulk of Alaska's known petroleum until the Prudhoe Bay Oil Field was discovered infollowed by the Kuparuk River oil field in The region also includes the Arctic National Wildlife Refuge, which itself has been the subject of controversy surrounding the possibility of petroleum drilling within.