ANCHORAGE, Alaska (AP) – The trans-Alaska pipeline has reached an enormous milestone: 18 billion barrels pumped.
KTUU-TV reported Monday that the amount of oil flowing from Prudhoe Bay to the shipping port of Valdez passed the 18-billion mark last Friday.
Pipeline operator Alyeska Pipeline Service Company says $145 billion in revenue from North Slope crude oil has been raised for Alaska.
Officials say the pipeline reached 17 billion barrels five years ago.
The milestone was passed as the Alaska Department of Revenue released a fall revenue forecast with falling projections for oil production.
A state oil tax initiative is aimed at raising taxes on legacy fields, which advocates say could help bridge the state’s budget deficit.
Some oil industry officials say higher taxes have the potential to kill future investment.
Information from: KTUU-TV, http://www.ktuu.com