5-15-12 – Alaska’s Budget is “Unsustainable”, N.D. Overtakes Alaska As Nation’s #2 Producer
ADN, North Dakota has passed Alaska to become the second-leading oil-producing state in the nation, trailing only Texas. * * * PNA by Eric Lidji (NGP Photo). Pioneer Natural Resources Alaska Inc. is announcing a 50 million barrel discovery at its budding Nuna development based on exploration drilling completed this past winter.
Alaska House of Representatives Finance Committee Cochairmen Bill Stoltz (NGP Photo–Far Left) and Bill Thomas (NGP Photo) said yesterday that, "The governor vetoed $66.6 million from the Fiscal Year 2013 statewide operations and capital investment budgets, which total $12.1 billion. … "This is a responsible budget but not a sustainable budget. It is essential for Alaska that we increase production flowing through the Trans Alaska Pipeline with measures like reasonable and responsible oil tax reform."
Energy Global. Despite its importance, the EU is a declining market for Russia’s long-term oil and gas exports owing to the rise of Asia as the world’s largest energy consumer. Russia has therefore been developing oil and gas fields (e.g. those of Siberia and Sakhalian islands) to generate oil and gas export capacities to meet this market’s growing demand, while building export infrastructure, including terminals, LNG plants and, of course, pipelines.
Rebecca Brown’s Consumer Energy Alliance energy links for today:
Consumer Energy Alliance has long recognized and advocated for the immense economic benefits that domestic energy production brings. From Pennsylvania to Texas and up to Michigan, we’ve witnessed the tremendous impact that increased energy production – both traditional fossil fuel and renewable energy – has brought to communities. And now, we have the studies to back that up. Last week, a series of reports confirmed just how significant energy production can have on the economy. In South Texas, increased activity in the Eagle Ford Shale last year contributed over $25 billion in economic impact.
The next chapter in the Keystone XL pipeline saga has now begun. In January, President Obama rejected the first proposal from TransCanada, the pipeline company, on grounds that there was not enough time for a thorough environmental review of the project, which would carry crude oil from the Alberta tar sands to the Gulf Coast. TransCanada recently filed a new application with the State Department, with alternative routes designed to avoid Nebraska’s Sand Hills region, an environmentally sensitive area that is at risk from potential pipeline leaks.
A senior executive with Enbridge, the company seeking to send Canadian oil sands west via pipeline toward Asian markets, says the U.S. production boom and falling imports help make the case for the project. Here are a few blurbs from prepared remarks by Janet Holder, Enbridge’s executive VP for western access, to the Canadian Club of Toronto Monday: “
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