It was fifty years ago today- July 18, 1968 Atlantic Richfield Company and Humble Oil and Refining Company announced the discovery of the Prudhoe Bay Oil Field beneath the Alaska North Slope. This oil field was discovered back in December 1967. It is the largest oil field in North America and originally contained approximately 25 billion barrels of oil. The amount of removable oil in the Prudhoe Bay Oil Field is more than double the next largest field in the United States- the East Texas Oil Field. Seward’s Folly sure did pay off. If only he had lived to see how great a deal he had made.