“I think it's unfortunate,” Dunleavy said of the decision during an interview on FOX Business’ Varney & Co. “We do a lot of business with Goldman Sachs we're going have to reevaluate that, have a discussion with them.”
|GS||THE GOLDMAN SACHS GROUP INC.||332.91||-11.04||-3.21%|
Dunleavy also stressed this state's importance in the national economy and said having oil exploration development, for example, in the Arctic National Wildlife Refuge (ANWR), would boost the production in the pipeline, create jobs and keep oil prices affordable for America.
|USO||UNITED STATES OIL FUND L.P.||59.48||-1.31||-2.15%|
“We're still focused on opening up ANWR,” he said. “I think it's a good thing for our state. It's a good thing for our country.”
Dunleavy said although production costs are higher in Alaska, they have remained a conventional field.
Dunleavy said the North Slope in the 1970s and 1980s shored up America’s production of oil and noted that The Trans-Alaska Pipeline System (TAPS) just recently pumped its 18th billion barrel of oil.
However, production is declining. TAPS is operating at just one-third of its capacity, and there has been a 30 percent decrease in the last decade.
Still, things are turning around for Alaska.
"The economy is on the rebound."