“The development of Arctic Alaska’s oil and natural gas resources has produced enormous economic benefits … while protecting Alaska’s natural resources,” said Dustin Meyer, API Senior Vice President of policy, economics and regulatory affairs. “This record of experience and knowledge proven by a half-century of responsible development on the North Slope, along with continuing industry innovations, provides a sound basis for the future safe and responsible exploration and development of the Petroleum Reserve.”
In the comments, API reiterates the industry’s record of environmental stewardship in Alaska and highlights the economic and national security benefits of continued responsible development of the Petroleum Reserve. The US oil and natural gas industry supports 69 250 direct and indirect Alaska jobs, and revenue derived from oil and natural gas development provides the vast majority of revenue for the North Slope Borough (95%), which is then used to provide a wide range of essential public services. According to data from the US Geological Survey, NPR-A is estimated to hold 8.7 billion bbl of oil and 25 trillion ft3 of natural gas, supplying critical resources that will bolster US energy security now and into the future.
“[API] remains supportive of a management regime in the Petroleum Reserve that promotes responsible oil and natural gas exploration, development, and production while balancing protections for important environmental resources and local subsistence uses consistent with the purposes of the NPRPA. The Proposed Rule, however, deviates from this balanced approach,” Meyer concluded.
