PEAK OIL IN ALASKA….Oil production in Alaska is a microcosm of the peak oil phenomenon. Here’s the Washington Post on drilling at Prudhoe Bay:

This vast field is ailing: Output has fallen by nearly 75 percent from its peak in 1987 and is expected to continue dropping.

….”You just hate to see [Prudhoe Bay production] winding down the way it is,” said Vincent Leonard, a BP manager who has worked here since the late 1970s, when production began. “They told us years ago, ‘Eventually you’re going to hit this point where things are declining,’ and they are.”

….”It does feel like we’re peddling hard and running out of options,” said Maureen Johnson, a BP senior vice president in charge of Prudhoe Bay and nearby fields.

The engineers at Prudhoe are using loads of new technology to slow the decline, but that’s all they’re able to do: slow the decline. All the money in the world won’t turn things around.