by D. Middleton, April 3, 2019 in WUWT
I ran across a very lucid and informative article on Real Clear Energy today. The author is Robert Dillon, “a senior adviser on energy security at the American Council for Capital Formation and the former communications director of the Senate Energy and Natural Resources Committee.” The article includes numerous links to supporting information, particularly the National Petroleum Council’s (NPC) 2015 report on U.S. Arctic oil & gas resource potential.
The key findings of the 2015 NPC report were:
- Arctic oil and gas resources are large and can contribute significantly to meeting future U.S. and global energy needs.
- The arctic environment poses some different challenges relative to other oil and gas production areas, but is generally well understood.
- The oil and gas industry has a long history of successful operations in arctic conditions enabled by continuing technology and operational advances.
- Most of the U.S. Arctic offshore conventional oil and gas potential can be developed using existing field-proven technology.
- The economic viability of U.S. Arctic development is challenged by operating conditions and the need for updated regulations that reflect arctic conditions.
- Realizing the promise of Arctic oil and gas requires securing public confidence.
- There have been substantial recent technology and regulatory advancements to reduce the potential for and consequences of a spill.
Figure 1-1. Arctic exploration wells by country and time period. (NPC)