Gov. Mike Dunleavy appeared recently on the Fox Business channel telling host Neil Cavuto that Alaska is ready, if called upon, to increase energy production as the situation with Russia and Ukraine goes on. These very same comments have been echoed by Alaska’s Congressional Delegation at length as of late due to the amount of oil the United States buys overseas versus choosing to not increase domestic production.
Just this week alone prices of gasoline at the pump here in Kenai are at $4.12/gallon, up from $3.72 on Monday. According to AAA, the national average for regular gasoline was $3.60, nearly 80 cents higher than the week before and 89 cents more than a year ago.
The U.S. Energy Information Administration reports that Alaska’s crude oil reserves of 2.4 billion barrels are the fourth largest of any state, but many of Alaska’s oil fields are mature, and in 2020 the state’s oil production averaged 448,000 barrels per day, the lowest level since 1976.
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