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MUFSON’S FOLLY: WaPo Writer Wants US To Sell Alaska

December 16, 2012

Washington Post writer Steven Mufson has come up with a solution to America’s debt problem – sell the State of Alaska. After all, Alaska is rich in oil and many other natural resources. It might be smarter for America to tap those resources and sell them ourselves but liberals won’t allow that.

Here’s a question, can we sell California instead?

To solve our debt problems, let’s sell Alaska

The prospect of once again hitting the federal debt ceiling has provoked the ritual round of hand-wringing about the intractable nature of this $16 trillion conundrum. But there is a simple, elegant option that involves no tax increases, no spending cuts and just a bit of imagination.

Sell Alaska.

That’s right. Put the entire state — from Juneau to Deadhorse, from the Bering Strait to the Beaufort Sea — on the auction block.

Absurd? No more absurd than the spectacle taking place right now as we skid closer to the “fiscal cliff.”

Selling real estate at top dollar is all about timing, and now’s a great time to unload the Klondike state. The federal government, which owns 69 percent of Alaska, could cash in on the vast, resource-rich state at a time when oil prices are high and wild salmon is flying off the shelves at Whole Foods. Selling Alaska could fetch at least $2.5 trillion and maybe twice that amount, enough to lop off a huge chunk of the national debt and perhaps as much money as President Obama and House Speaker John Boehner hope to save or raise over the next decade….

What is Alaska worth today?

There are 3.7 billion barrels of proved oil reserves and 9 trillion cubic feet of proved natural gas reserves in the state, according to the Energy Information Administration. Oil companies are eyeing even bigger potential reserves in unexplored areas. The Interior Department estimates that the Chukchi Sea alone could hold up to 12 billion barrels, equal to half of the country’s proved reserves, and Cook Inlet and the Beaufort Sea as much as 8 billion barrels. The state has large shale areas where new hydraulic fracturing techniques could yield new supplies.

God forbid America use those resources for herself.

I hope Mr. Mufson’s article is intended to be satire but with The Washington Post, one can never be sure.

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