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ConocoPhillips CEO Doubles Down on Alaska Oil as Competitors Leave Arctic

Benoît Morenne of The Wall Street Journal reports on ConocoPhillips and its operation in Alaska.

The C3 Take
  • ConocoPhillips will operate the Alaska Willow project which will produce 180,000 barrels of oil per day.
  • Ryan Lance, who is the CEO of the energy giant, has recognized the important role that American energy production will play in reducing global emissions while providing reliable and affordable power to consumers.
  • American oil and gas is also critical to bolstering the energy security of allies in Asia and Europe.
  • The Willow project will provide up to $17 billion to Alaska’s economy and create over 2,000 construction jobs and 300 permanent jobs.

“Willow has earned ConocoPhillips scorn from environmental groups, who say the project will emit climate-warming greenhouse gases for decades. But it has found support among some Alaska Natives’ associations, local politicians and the Alaska delegation in Congress. Proponents say that Willow could generate local, state and federal revenue of up to $17 billion and create more than 2,000 construction jobs and 300 permanent jobs.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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