Alaska Offshore Drilling oil production would exceed Lia and Nigeria http://bit.ly/yKdAOJ

Article by Mark

Could the drilling project on Alaska's Outer Continental Shelf (OCS) turn them into the 8th largest oil producer in the world? Could they pass Libya and Nigeria? According to Northern Economics (a consulting company) and University of Alaska-Anchorage's Institute of Social and Economic Research, that could be a very real possibility. A senior advisor on policy at the American Petroleum Institute claimed that this could mean a great deal to solving the US energy needs, and to stabilize the economy."America will need all forms of energy to get our economy back on track, and that includes oil - we can either produce it here and create more American jobs or import it and create jobs elsewhere," Richard Ranger said. "The administration and Congress need to adopt an 'all of the above' energy approach that leverages our offshore resources in Alaska to create an energy plan for America that boosts, rather than inhibits, our economy." How would major production like that that impact on the small EOR companies working to enhance or revitalize existing oil fields in numerous states? First of all, these companies are not competing with the oil giants. A spokesman for Team Resources Inc, currently at work in Kansas,says:"Team Resources does not compete with the Oil Giants. These companies "explore" and look for large reserves which costs quite a bit more than Team Resources would care to "risk". Their business objectives are much larger scale usually overseas. Team Resources has our own niche; we keep our overhead low and are focused in an area where the drilling and completing of wells are reasonable with oil reserves substantial enough to yield solid returns." How do the people managing the Team Resources ventures feel about the Alaska Project, especially now that President Obama has lifted the moratorium and has given the go-ahead to begin explorations and drilling?"Team Resources believes this is a step in the right direction as the President's prior decision to slow or halt new offshore drilling would have many negative impacts. These impacts are (but not limited to) the loss of oil/gas supply to the us, jobs  both directly related to drilling and gulf coast businesses which rely on this activity as well as taxes generated for the local and federal governments."  However, the spokesman for Team Resources does have some serious provisos for the massive undertaking:

 "Team Resources does support drilling in Alaska and offshore. Team Resources Inc also believes that we should take special care when drilling in eco sensitive areas. Maybe some of the additional regulations which we expect to be imposed following the BP incident could help move this initiative closer to a reality."