Alaska could be a solution

By Frank Murkowski

The conflict which may yet become a war begs for a permanent solution. Clearly, the issue is: who has the current excess production of crude oil? And who enjoys an operable revenue stream resulting from sales of crude oil worldwide. For the last few decades Iran has enjoyed that distinction.

In the chaotic finger-pointing that has evolved from Iran’s desire to have nuclear capability to the leverage that Iran has used in closing the Straits of Hormuz to tanker traffic. Their action has resulted in historically high prices for crude oil worldwide and fear and confusion for the exposed population.

In the meantime, in Alaska, we have an 800-mile pipeline TAPPS with a proven capacity of 2 million BPD, which is currently flowing at only 465,000 BPD. It is currently operating at 25% of designed capacity, which incidentally between 1985 and 1990 operated as high as 2 million BPD. At the same time Alaska’s production is currently on a slight increase with the Department of Revenue forecasting a peak of 679,000 by 2034.

Why can’t Alaska’s North Slope oil production achieve the designed level of 2 million barrels? We currently have favorable prospects for major oil discovery in the Pikka satellites and the Sockeye discovery by Armstrong Oil, Santos Ltd and Apache. A major production process is underway at Willow by ConocoPhillips. Further, with the record NPR-A lease sales just concluding and the North Slope lease sale, the prospects for increased exploration will undoubtedly be successful.

Increasing production based on existing reserves suggests that 2 million barrels per day outflow is achievable, but only with President Trump’s energy and assistance. Such action will bring our nation to a degree of certainty in achieving independence on oil for the foreseeable future.

I would encourage Alaskans to join with our delegation to highlight the fact that we have oil reserves for certain. And yet, our delivery system, the TAPPS Pipeline, is only operating at 25% of its full 2 million BPD capacity.

We can’t afford to wait any longer. Alaska is an achievable solution.

• Frank Murkowski is a former Alaska governor and U.S. senator.