The American Petroleum Institute (API) has called on the Biden administration to recognize the important role that Alaska plays in U.S. energy security and support the continued development of energy resources in the National Petroleum Reserve (NPR-A). In comments submitted to the Department of the Interior’s Bureau of Land Management (BLM), API expressed concern over proposed regulatory changes that would restrict energy development in the NPR-A and jeopardize economic growth and revenue for local communities. API emphasized that the proposal ignores congressional intent and urged BLM to engage in a more robust public engagement process to develop a balanced approach to managing the NPR-A.
'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 U.S. 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 U.S. Geological Survey, NPR-A is estimated to hold 8.7 billion barrels of oil and 25 trillion cubic feet of natural gas, supplying critical resources that will bolster U.S. 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.
View the comments here.
Source: API
