Seminar to address declining oil production

The University of Alaska Fairbanks Cooperative Extension Service will hold a free public seminar Saturday afternoon on the effect declining oil production will have on the local economy.

Rich Seifert, an energy specialist with the extension service, is among some who believe that petroleum production around the world is reaching its peak and is expected to start declining by 2010–an event that could cause energy and other costs to increase.
“This is a natural event that we should all be expecting,” he said. “It is extremely important to the world economy and how we live in Alaska because of our dependence on oil.”

Seifert and Phil Loudon, owner of Arctic Technical Services, will discuss the effect of declining oil production and the possibilities for alternative energy sources during the three-hour seminar.

Fairbanks News-Miner