THERE ARE SPECIAL CHALLENGES TO EXTRACTING OIL IN A TERRAIN AS DIFFICULT AS ALASKA'S NORTH SLOPE. PRODUCERS HAVE TO COMPENSATE FOR THINGS YOU WON'T FIND IN THE FRACKING FIELDS - LIKE WINTER ONLY EXPLORATION, HAVING TO REBUILD MULTI-MILLION DOLLAR ICE ROADS EVERY YEAR, EXCEPTIONALLY LIMITED INFRASTRUCTURE, AND SOME OF THE MOST STRINGENT ENVIRONMENTAL REGULATIONS ON THE PLANET.
WE SAT DOWN IN AN EXCLUSIVE ONE-ON-ONE WITH CONOCO PHILLIPS ALASKA TO TALK ABOUT PRODUCTION HURDLES YOU WON'T FIND IN TEXAS. TEXAS HAS ALWAYS BEEN OUR COMPETITIVE OLDER LITTLE SISTER. ACCORDING TO THE TEXAS OIL & GAS ASSOCIATION - THE LONE STAR STATE SET A NEW RECORD LAST YEAR - COLLECTING $16.3 BILLION IN ROYALTIES AND TAXES - AFTER THE LARGEST PRODUCTION YEAR IN TEXAS HISTORY.
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