When you think of large oil producing nations, no doubt countries like Iran, Saudi Arabia, Russia and Venezuela come to mind. But could Alaska also be added to that list? Well, maybe not quite yet, but a new study says that if Alaska’s offshore drilling were fully realized, that state alone could become the eighth largest oil producing nation in the world. According to the institute of social and economic research, developing Alaska’s offshore drilling could create over 50,000 jobs and produce some 10 billion barrels of oil. This would be enough to shave about ten percent off U.S. Foreign oil imports over the next few decades. Time and politics will tell whether Alaska’s oil potential is ultimately tapped, or capped.

 

Author

  • CFACT

    CFACT, founded in 1985 by Craig Rucker and the late (truly great) David Rothbard, examines the relationship between human freedom, and issues of energy, environment, climate, economics, civil rights and more.