​ Shell, BG Group Merger Signals Huge Changes in Energy

The $70 billion acquisition of BG Group by Royal Dutch Shell will set off some huge, and profitable, changes in energy… Full Story.

FROM ALASKANOMICS: SEATTLE BENEFITTED BY ALASKA.  Earlier this year, the Seattle Metro Chamber released a study that shows continued growth to the Puget Sound region due to Alaska’s economic impact. The report shows that Alaska’s impact can be seen in a number of sectors including freight/cargo, seafood, passenger transportation and tourism, maritime support, refining, health care, and education. In 2013, Alaska accounted for 113,000 direct, indirect, and induced jobs that generated $6.3 billion in wages for the Puget Sound region.

Last week, Seattle hosted a panel of Alaska experts to discuss the impact of low oil prices and how it relates to business throughout the Northwest. The Puget Sound is not expected to feel a real impact in 2015 but could start to feel a pinch in 2016. Puget Sound businesses provide $5.3 billion in goods and services to Alaska, which travel through Puget Sound ports. 2015 contracts are already set, so traffic is not expected to change, but could drop in 2016 if Alaska changes its spending plan for the coming year.

As is the case with the Alaska economic environment, 2015 will not be a crisis for the Puget Sound region, but businesses are more cautious moving forward and planning for 2016. Bill Pedlar, Executive Committee Member with the Alaska Travel Industry Association noted that in 2015 the number of people taking Seattle-based cruises into Alaska is expected to rise 5 percent to record levels, but it could change next year. Marketing budgets will be tight, which will make it harder to win passengers. More than 1 million people pass through Seattle-Tacoma International Airport on their way to an Alaska cruise.

The Puget Sound and Alaska will always be strongly linked and the Pacific Northwest is watching the Alaska economy closely as they plan for the future.

For the “Ties that Bind” report, visit http://www.seattlechamber.com/home/business-tools/community-news/detail/2015/02/06/ties-that-bind-puget-sound-to-alaska-stronger-than-ever