Arctic Oil and Gas: Policy Perspectives
National policy is as arcane as laws and sausages. Policy is not always easy to identify and the process of its formulation is mysterious. Policy toward Arctic oil and gas flows from the national view of the role of the marketplace, as shaped by international commitments, administration thinking, views of industry and public interest groups, and a variety of laws passed by Congress and the State of Alaska. According to the 1983 Arctic Summary Report issued by the Department of the Interior (DOI), future events in Arctic oil and gas development will be determined by three major factors: (1) the location and size of undiscovered hydrocarbon resources, (2) future energy prices, and (3) the policies developed by the federal government, the State of Alaska, and the North Slope Borough.1 Governments cannot affect the location and size of resources, nor does the United States government have much capability to influence world oil prices. But government policies are critical to the rate and direction of development.
KeywordsEurope Petroleum Transportation Hydrocarbon Income
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- National Petroleum Council (NPC), U.S. Arctic Oil and Gas, Washington, DC, December 1981.Google Scholar
- Alaska, Department of Natural Resources, Five Year Oil and Gas Leasing Program, January 1983, pp. 7–8.Google Scholar
- Marine Board, National Research Council, Engineering at the Ends of the Earth; Polar Ocean Technology for the 1980’s, National Academy of Sciences, 1979.Google Scholar