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House Democrats Laud Successful Cook Inlet Lease Sale

Today, four members of the House Democratic Caucus said that today’s successful Cook Inlet lease sale was another reason for Alaskans to be optimistic about Alaska’s ability to meet long-term local energy needs with Alaskan gas.

“The industry’s renewed interest in Cook Inlet is not surprising given the incentives we’ve put in place and the real potential to find large amounts of untapped oil and gas,” said Representative Pete Petersen (D-Anchorage). “It shows they think there’s a lot of gas there, and that they’re willing to produce it. That’s good news for Alaska’s energy future.”

“This serious interest in finding and developing Cook Inlet gas could be the mid- and long-term solution to meeting Fairbanks and the Interior’s energy needs,” said Representative Bob Miller (D-Fairbanks), who sponsored legislation to move forward on a gas pipeline from Cook Inlet to Interior Alaska. “It’s exciting to see the industry committing even more resources to developing Alaska’s gas.”

“Alaskans are craving as stable supply of natural gas to lower their costs of energy, and this could help fulfill that craving,” said Representative Chris Tuck (D-Anchorage). “The success of this sale is a good indication of Cook Inlet’s untapped potential to meet the increasing energy needs of Alaska.”

“The industry thinks there’s gas there and they’re putting money on it,” said Representative David Guttenberg (D-Fairbanks). “It’s a move forward in meeting the state’s in-state energy needs.”

According to the Alaska Department of Natural Resources, the nearly $7 million in bids makes this lease sale the second largest Cook Inlet lease sale since the state implemented the areawide sale model in 1999.

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