How much oil is left in Alaska?

Rystad Energy estimates Alaska’s remaining recoverable oil reserves to be 23.3 billion barrels of oil and condensates.

How much recoverable oil does Alaska have?

A U.S. Department of Energy report estimates the recoverable oil reserves on the North Slope to be 22 billion barrels, including reserves from existing fields, as well as undiscovered resources. Natural gas estimates reach as high as 124 trillion cubic feet (tcf).

Is the Alaskan pipeline still in service?

The pipeline continues to function normally and several oil tankers have used the terminal since the spill was first reported, about a week ago.

How many years of oil does Alaska have?

Crude oil production in Alaska averaged 448,000 barrels per day (b/d) in 2020, the lowest level of production since 1976. Last year’s production was over 75\% less than the state’s peak production of more than 2 million b/d in 1988.

Do Alaska residents get oil money?

JUNEAU, Alaska (AP) — What was once a joyous fall rite in Alaska has become another thing for people to bicker about — the amount of money residents receive from the state’s oil wealth. …

Does Alaska have more oil than Saudi Arabia?

Alaska is about the same size as Iran, four-fifths as big as Saudi Arabia, and huge portions of the state consist of mountain ranges where drilling is impossible. The EIA estimates that about 10.4 billion barrels of oil can be recovered from ANWR, just over a year of American consumption.

Where does the oil from Alaska pipeline go?

About 4 out of 5 barrels of oil produced in Alaska are sent to refineries in Washington and California. About four-fifths of the oil produced in Alaska is transported by tankers to refineries in Washington and California.

How much money has the Alaska pipeline made?

Pipeline operator Alyeska Pipeline Service Company said $145 billion in revenue from North Slope crude oil has been raised for Alaska. Free capital spending, drilling & production forecasts – 2019 Guidance with the Daily Oil Bulletin. The pipeline hit the 17 billion barrel mark five years ago, officials said.

What is wrong with the Alaska pipeline?

The US Department of Transportation’s pipeline safety division says the 800-mile trans-Alaska pipeline is corroded and poses a severe public safety and environmental risk. Federal regulators say the 800-mile pipeline is corroded and poses a severe public safety and environmental risk.

Who owns the oil in Alaska?

ConocoPhillips is Alaska’s largest crude oil producer and largest owner of exploration leases, with approximately 1.3 million net undeveloped acres at year-end 2020.

How much does the government pay you to live in Alaska?

Currently, citizens get up to $2,000 a year just for living there. The state’s Permanent Fund Dividend (PFD) Program provides all of Alaska’s permanent residents (both children and adults) a small portion of the state’s oil wealth annually.

When was the first oil pipeline built in Alaska?

The Timeline of the Trans-Alaska Pipeline 1968 — The largest oil strike in the U.S. was discovered underneath Prudhoe Bay. 1975 — Construction of the Trans-Alaskan Pipeline began June 20, 1977 — The first oil left Prudhoe Bay through the 789 mile pipeline in route to Valdez

What happens to the money from Alaska’s oil pipeline?

It collects at least 25 percent of all money made from the pipeline’s oil to be used for “income-producing investments” for the state, according to the fund’s website. Part of the fund, known as the earnings reserve, is distributed each year to Alaskan residents as the Permanent Fund Dividend distribution.

What are the technical details of the Trans-Alaska Pipeline?

Technical details. Oil going into the Trans-Alaska Pipeline comes from one of several oil fields on Alaska’s North Slope. The Prudhoe Bay Oil Field, the one most commonly associated with the pipeline, contributes oil, as do the Kuparuk, Alpine, Endicott, and Liberty oil fields, among others.

What was the first oil spill in Alaska?

1968 — The largest oil strike in the U.S. was discovered underneath Prudhoe Bay. 1975 — Construction of the Trans-Alaskan Pipeline began. June 20, 1977 — The first oil left Prudhoe Bay through the 789 mile pipeline in route to Valdez. March 1989 — An oil tanker spilled 260,000 to 750,000 barrels of crude oil into Prince William Sound.