ADN Op-Ed by Scott Jepson (NGP Photo). …high taxes on North Slope oil production, in particular the tax increases passed by the Legislature in 2007 under a bill called ACES, are hurting the investment climate on the North Slope and ultimately the long-term health of Alaska’s economy.
Calgary Herald by Dan Healing. Growing competition from oilfields as far away as Colombia and Brazil make it increasingly critical that Canada gain access to new markets for its oil, says a Scotiabank report released Monday.
Alaska Dispatch by Tony Hopfinger and Scott Woodham. In the Russian Arctic, state-owned oil giant Gazprom is doing what Alaskans have long dreamed of — tapping vast reserves of natural gas at the top of the planet and shipping them to markets. Although natural gas has been flowing from the Yamal Peninsula’s Bovanenkovo gas field since June, this past week Gazprom hosted a big event to celebrate the official launch of its field and the workers there. Bovanenkovo, one of the world’s three largest conventional natural gas fields, holds an estimated 177 trillion cubic feet of gas. Its official opening featured a giant video monitor that beamed in an address from Russia President Vladimir Putin. The Wall Street Journal described the event like this: Putin praised Gazprom’s successful launch of the new gas field, expected to produce for the next 28 years. He then suddenly slammed the gas monopoly for not adjusting its policy to what he saw as the risk of growing production of shale gas around the world. … See related Bloomberg story here.