Shell Alaska Study Estimates $20B for State Providing OCS Drilling Permission
The new study highlights the potential benefits of developing in the state’s outer continental shelf should the corporation be granted permission.
Shell Alaska has released a new study that highlights the potential benefits of developing in the state’s outer continental shelf should the corporation be granted permission.
The economic study estimates by the year 2057 that Alaska's offshore oil and natural gas could create more than 90,000 in-state jobs as well as generate nearly $200 billion of total revenue, sending about $20 billion to Alaska coffers.
But before Shell can start drilling, the federal government must give them the green light for air permits.
"We think it’s an absolute game changer, really. If you look at what's happening with the Trans Alaska Pipeline, it’s one-third full. If you look at the estimates of the oil and gas of the Chukchi [Sea and] Beaufort [Sea] combined, we're talking about 27 billion barrels of oil…that’s almost double what's been," said Curtis Smith, Shell Alaska External Affairs.
The Wilderness Society emphasizes the importance of not only recognizing how an oil spill would affect Alaska's communities, but also the importance of Arctic Ocean life.