The TAPS was built in the 1970s and began operating in 1977. It has a capacity of 2.1 million barrels of oil per day, but currently operates at about half that capacity. The decline in production is due to the depletion of oil reserves in Prudhoe Bay.
The TAPS is an important part of the US economy. It provides energy to the US and helps to keep gas prices low. The pipeline also creates jobs and supports local economies in Alaska.