Of related interest:

Down & out in AK, Commentary by Craig Medred.    Yet more trouble appears on the horizon for the already troubled business of journalism in Alaska.

More on our earlier report covering BP’s 2017 statistical review from our Mid-Atlantic energy analyst friend…demonstrating the ‘reach’ of this annual review  -dh:  “The BP Statistical Review of World Energy 2017 is now available. We made a quick link to it last night, but here it is again: http://www.bp.com/content/dam/bp/en/corporate/pdf/energy-economics/statistical-review-2017/bp-statistical-review-of-world-energy-2017-full-report.pdf  It is worth downloading, and the information is available on the website in interactive format.  It is a great source of information, and we find it a necessary source numerous times during the year. But being of the old (oh, how we hate that word) school, we prefer to have a printed copy handy. Although BP makes it tough to find how to order a copy, we have done the work for the List. Here is the link to where it can be ordered: https://app.irdirect.net/company/BP/hotline/

Alaska’s Credit Worthiness — After 40 Years Of Outstanding Oil Industry Wealth Production — Is Threatened By Government Overspending and Over Reliance On A Volatile Commodity!

Alaska Dispatch: S&P warns Alaska again of possible credit downgrade, citing need for fiscal reform
A major credit rating agency said Tuesday that it will likely lower Alaska’s credit rating if the state does not adopt fiscal reforms that lawmakers in Juneau have been wrestling over for months.

Governor Walker’s Statement on Negative Watch of State Credit Ratings.  Standard & Poor’s cites reliance on savings, lack of new revenues, budget impasse

Timeline of Alaska’s Credit Ratings

·         March 3, 2015 – Moody’s, S&P, and Fitch Ratings separately affirm Alaska’s AAA bond ratings

·         November 2, 2015 – S&P optimistic Alaska will enact long-term, structural reforms to close $3.5 billion deficit

·         January 5, 2016 –S&P lower Alaska’s credit rating to AA+ negative, citing declining oil prices and a lack of adoption of a comprehensive fiscal plan

·         February 29, 2016 – Moody’s lower Alaska’s credit rating to Aa1 negative, again citing low oil prices, declining savings, and lack of a complete plan.

·         June 14, 2016 – Fitch lowers Alaska’s credit rating to AA+, citing lack of a complete fiscal plan.

·         July 25, 2016 Moody’s again lowers Alaska’s credit rating to Aa2, citing inability to address structural fiscal challenges, and lack of a complete fiscal plan.

Republican Leaders Work To Counter House Democrat Instigated Government Shutdown.  Outlook Uncertain:

Tonight’s “Morris Alaska Reports” Looks At 5th Day Of 2nd Special Session  Tuesday’s “Morris Alaska Report” takes a look at the 5th day of the 2nd Special Session, of the 30th Alaska State Legislature.

  • Colleen Sullivan-Leonard

    Dear Friends: As you all have heard by now, the First Special Session has ended and the Second Special Session has begun.  Following the antics of last Thursday, only time will heal the damage done to the legislative process and Capital relationships.  In moving forward, Rep. Seaton has allowed 1 conference committee to be scheduled and another is scheduled for this afternoon at 4 p.m.  While I sent an update last week and post daily updates on Facebook, I felt you needed a quick email update:

    This is a pretty somber time in the legislature but our #18Strong are working diligently to: 1) Protect the PFD; 2) aim for a $4 Billion dollar budget; 3) institute cuts of over $300 million dollars that would not impact essential services;  and 4) use the appropriate funding source.  While we have all been told over and over again that “everything is on the table” and we have been prepared to negotiate and comprise on every issue important to the future of Alaska, we are disappointed the House Democratic Majority gave up on Alaska and proposed and passed the 89 page amendment that effectively rolled the operating budget into the capitol budget which totaled $12.1 Billion!  That’s the largest budget in Alaska’s history.  It also sought to fund this budget out of the Permanent Fund Earnings Reserve….

Best regards to you and yours,

Read complete message here.

See Yesterday’s 40 Year Prudhoe Bay Anniversary Archives…

…and find today’s followup links below: