Crude oil output at Alaska’s North Slope could increase by as much as 40% in the next eight years. Fewer bureaucratic barriers and recent technology advancement continue to make North Slope popular among oil exploration operators. Alaska has the infrastructure for oil production, and was responsible for almost a fourth of US oil in 1997. The impending oil renaissance in Alaska’s North Slope is going to be even more massive than previously projected. The oil lurking under the surface of the historically oil rich region is enough to turn the state’s economy around and reinstate it as a major player in the oil industry, according to new research from IHS Markit, a London-based global information and analytics provider. The study shows that the North Slope’s crude output could increase by as much as a whopping 40 percent in the next eight years, more than regaining its place as one […]