President Donald Trump has repeatedly vowed that he would unleash America’s energy capabilities and allow companies to extract oil and other natural resources from the earth to help boost the American economy.
Trump may get his chance to follow through on his promise, because a massive new discovery of oil in Alaska has the potential to boost the Alaskan economy and help America’s energy supply, KTVI reported.
The estimated 1.2 billion-barrel discovery is the biggest in three decades, and the two companies behind the discovery, Spanish oil giant Repsol and its U.S. partner, Armstrong Energy, hope to begin production by 2021.
CNN reported that the new find could lead to as many as 120,000 barrels of oil being produced a day — which is a huge amount.
“The interesting thing about this discovery is the North Slope was previously thought to be on its last legs. But this is a significant emerging find,” Kristian Rix, a Repsol spokesman, explained.
Fox Business reported that this new discovery has followed a series of other major discoveries by geologists of sites that contain potentially billions of barrels of oil.
With Trump in the White House easing back regulations, these companies will now have an easier time drilling for oil. It’s a win for businesses, and its a win for consumers who will have cheaper energy thanks to the abundance of it that we are sitting on.
While liberals are sure to scream about the environment and how evil oil is, the fact of the matter is that America needs energy, and until some genius comes up with a way to actually make solar power or wind power work, we need oil, coal and other such resources to live.
Thanks to this new find, America possibly can reduce its reliance on foreign oil and become energy-independent.
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