Slope oil giants set to prosper as veto fallout continues
Journal of Commerce by Elwood Bremer.
The consequences continue to reverberate after Gov. Bill Walker’s veto of more than $600 million owed to independent explorers and producers in the last two years.
A pair of stories in the last week detail one company trying to meet its loan obligations to the state even as the state refuses to make good on its obligations to the company, and the other reveals that the major North Slope producers are now buying up the vetoed credits for pennies on the dollar to reduce their future tax liabilities.
We can begin with BlueCrest, the Cook Inlet company that is now drilling into the Cosmopolitan prospect from its onshore rig on the southern Kenai Peninsula.
The State of Alaska currently owes BlueCrest about $17 million in credits, which are rebates for prior spending on exploration and development.
BlueCrest intended to use the money owed by the state to fund a reserve account that was required to have $15 million in it as of this coming ….
(Read full story here….)
Dave Harbour, publisher of Northern Gas Pipelines, is a former Chairman of the Regulatory Commission of Alaska, a Commissioner Emeritus of NARUC, NARUC's Official Representative to IOGCC and Vice Chairman of NARUC's Gas Committee. He served as Gas Committee Chairman of the Western Conference of Public Service Commissioners. He also served as commissioner of the Anchorage Bicentennial Commission and the Anchorage Heritage Land Bank Commission.
He earned a Bachelor of Arts Degree: English, at Colorado State University, a Master of Science Degree: Communications-Journalism at Murray State University and graduated from Utility Regulatory School for Commissioners at Michigan State University. He served as a Vice President for Communications and Public Affairs at Alaska Pacific University, taught bank marketing classes at the University of Alaska and was an English teacher at Los Alamos High School.
Harbour served in ranks of Private - Captain during a 4-year assignment with the Army in Korea, Idaho, Georgia and Fort Meade and received the Meritorious Service Medal among other commendations.
Harbour is also a past Chairman of the Alaska Council on Economic Education, the Alaska Oil & Gas Association Government Affairs Committee, the Anchorage Chamber of Commerce, the Export Council of Alaska and the Department of Commerce's District Export Council. He is a past President of the Alaska Press Club, American Bald Eagle Foundation, Consumer Energy Alliance-Alaska and Common Sense for Alaska.
Harbour was instrumental in founding the American Bald Eagle Research Institute (UAS), the Alaska Support Industry Alliance, the Downtown Anchorage Business Partnership, and Arctic Power.
He also served as CEO of several small Alaska organizations, including the Anchorage Parking Authority and Action Security, Inc. Harbour is also Chairman Emeritus of the Alaska Oil & Gas Congress.
Harbour's wife, Nancy, is a professional, performing arts administrator and his three boys, Todd, Benjamin and William work in the fields of environmental management, energy marketing and medicine.
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