The state will likely have to spend real money to get companies to drill more wells in Cook Inlet. But how much should Alaska invest in petroleum when cheap wind and solar are on the horizon?
part of his proposed incentive package aimed at rejuvenating natural gas production in Cook Inlet, the declining petroleum basin outside Anchorage.
The Dunleavy administration’s proposed solutions to this problem, so far, would do little to address this fundamental problem of risk. Instead, they’re geared toward boosting the reward for a successful strike,But it takes years for wildcatters to go from drilling exploratory wells to installing the substantial infrastructure needed to actually produce and pipe out their petroleum products — meaning that companies would wait a long time before realizing any royalty-related benefit.
But this is where things get interesting: Any discussion about the state actually spending money on natural gas projects inevitably raises the question of opportunity costs.
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