Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production
The discovery of oil on Alaska’s North Slope in the 1920s began a century of fossil fuel exploration, development, and production in the Arctic region. Alaska became integral to the nation’s growing energy dominance. However, since 1988, oil production on the North Slope has been in steady decline....
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ftworldlearning:oai:digitalcollections.sit.edu:isp_collection-4309 2023-05-15T14:34:29+02:00 Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production Stein, Eliot 2020-04-01T07:00:00Z application/pdf https://digitalcollections.sit.edu/isp_collection/3285 https://digitalcollections.sit.edu/cgi/viewcontent.cgi?article=4309&context=isp_collection unknown SIT Digital Collections https://digitalcollections.sit.edu/isp_collection/3285 https://digitalcollections.sit.edu/cgi/viewcontent.cgi?article=4309&context=isp_collection Independent Study Project (ISP) Collection Climate Energy Policy Environmental Health and Protection Environmental Studies Natural Resources Management and Policy Oil Gas and Energy Place and Environment text 2020 ftworldlearning 2022-12-19T06:53:17Z The discovery of oil on Alaska’s North Slope in the 1920s began a century of fossil fuel exploration, development, and production in the Arctic region. Alaska became integral to the nation’s growing energy dominance. However, since 1988, oil production on the North Slope has been in steady decline. In 2015, Shell, followed by several other oil majors, terminated their Arctic Alaska operations. This past year, BP made waves by ending six decades of operations in Alaska. Most recently, five of the six major U.S. banks announced they would no longer finance Arctic oil and gas projects. This paper analyzes these decisions by evaluating the environmental, economic, and reputational risk of engaging in Arctic oil exploitation. A thorough review of existing literature demonstrates waning interest in the region’s fossil resources. Operating in and likely harming the pristine and fragile Arctic Alaskan ecosystem requires companies to incur added costs and face growing backlash that diminished potential returns can no longer justify. Consequently, I conclude that despite recent efforts by President Donald Trump to revive the region, Arctic Alaska will lose relevance for national oil production in the coming decades and possibly as early as the mid-2020s. Text Arctic north slope Alaska SIT Digital Collections Arctic |
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SIT Digital Collections |
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ftworldlearning |
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Climate Energy Policy Environmental Health and Protection Environmental Studies Natural Resources Management and Policy Oil Gas and Energy Place and Environment |
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Climate Energy Policy Environmental Health and Protection Environmental Studies Natural Resources Management and Policy Oil Gas and Energy Place and Environment Stein, Eliot Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production |
topic_facet |
Climate Energy Policy Environmental Health and Protection Environmental Studies Natural Resources Management and Policy Oil Gas and Energy Place and Environment |
description |
The discovery of oil on Alaska’s North Slope in the 1920s began a century of fossil fuel exploration, development, and production in the Arctic region. Alaska became integral to the nation’s growing energy dominance. However, since 1988, oil production on the North Slope has been in steady decline. In 2015, Shell, followed by several other oil majors, terminated their Arctic Alaska operations. This past year, BP made waves by ending six decades of operations in Alaska. Most recently, five of the six major U.S. banks announced they would no longer finance Arctic oil and gas projects. This paper analyzes these decisions by evaluating the environmental, economic, and reputational risk of engaging in Arctic oil exploitation. A thorough review of existing literature demonstrates waning interest in the region’s fossil resources. Operating in and likely harming the pristine and fragile Arctic Alaskan ecosystem requires companies to incur added costs and face growing backlash that diminished potential returns can no longer justify. Consequently, I conclude that despite recent efforts by President Donald Trump to revive the region, Arctic Alaska will lose relevance for national oil production in the coming decades and possibly as early as the mid-2020s. |
format |
Text |
author |
Stein, Eliot |
author_facet |
Stein, Eliot |
author_sort |
Stein, Eliot |
title |
Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production |
title_short |
Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production |
title_full |
Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production |
title_fullStr |
Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production |
title_full_unstemmed |
Crude Intentions: Evaluating the Growing Risks of Arctic Alaskan Oil Production |
title_sort |
crude intentions: evaluating the growing risks of arctic alaskan oil production |
publisher |
SIT Digital Collections |
publishDate |
2020 |
url |
https://digitalcollections.sit.edu/isp_collection/3285 https://digitalcollections.sit.edu/cgi/viewcontent.cgi?article=4309&context=isp_collection |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic north slope Alaska |
genre_facet |
Arctic north slope Alaska |
op_source |
Independent Study Project (ISP) Collection |
op_relation |
https://digitalcollections.sit.edu/isp_collection/3285 https://digitalcollections.sit.edu/cgi/viewcontent.cgi?article=4309&context=isp_collection |
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1766307507915980800 |