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Northrim Bank launched the Alaskanomics blog to provide news, analysis and commentary on Alaska’s economy. With contributions from economists, business leaders, policy makers and everyday Alaskans, Alaskanomics aims to engage readers in an ongoing conversation about our economy, now and in the future.

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Friday, October 14, 2011

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Ida

1.5 years he means that if we only used oil from the ANWR, to the exclusion of all other soruecs (OPEC, North Sea, etc), that it would meet US domestic consumption for only 1.5 years. I have seen this figure quoted elsewhere. But in reality the ANWR resoruecs would be drilled at a rate that would probably allow for gradual extraction over several decades.But I agree with the spirit of Duane's comment. In the scheme of things, the ANWR is a drop in the bucket, and will do little to contain the cost of gas for consumers, which the boogeyman used to sell the program. As Maria Cantwell indicated, due to the low value of the dollar, it will be more profitable for oil companies to sell the product to Europe at least in the short term.

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