1-13-12 - Shell Oil hopeful on Arctic drilling in 2012

1-13-12 – Shell Oil hopeful on Arctic drilling in 2012

PetroBakken stock rises on output target hit – Calgary Herald – By Dan Healing, Calgary Herald January 12, 2012 12:06 PM PetroBakken shares rose Thursday after it reported December production of over 50000 barrels of oil equivalent per day, including 23400 boe/dfrom the Saskatchewan Bakken, pictured here. …

The Ugly Reality of Alaska’s Current Oil and Gas Debate by Andrew Halcro (NGP Stock Photo-L), Alaska Dispatch.

Commentary and Report. Yesterday, our friend Brad Keithley (NGP Photo-L) briefed Alliance members on a recent District Court of Alaska decision by Judge Gleason, now having survived Senate confirmation to join the federal bench. Here is Brad’s own Blog entry, complete with slide presentation. After an introduction by Alliance president, Doug Smith (NGP Photo-R, below), Keithly launched into the theme of his speech, "It’s the production, Stupid!", cast after the famous James Carville theme for Bill Clinton’s campaign and administration, "It’s the economy, Stupid!" (Kiethly was in the Clinton ‘war room’ when Carville creatred that phrase as a way of keeping the President focused on economic matters, Keithley said.) Kiethley pointed out that though TAPS throughput might theoritically continue far into the future at smaller and smaller volumes, smaller volumes would result in the economic destruction of the state. Thus, volume of production is critical and providing an investment climate leading to sustained production is equally critical. Keithly went on to point out that while Gleason’s decision increased the valuation of TAPS, the then goes on to decrease the wellhead value of the the oil being transported, decreasing the value of royalty oil decreasing the value of severance and income taxes and, in effect, is a tax hike on producers. This occurs at a time when existing taxes are widely regarded as being too high and in need of reform. -dh (Other event photos below.)

More coming on last night’s oil tax debate!……………………………………

Anchorage Daily News: Dan Joling – Shell’s Arctic drilling plan gets major boost Royal Dutch Shell’s quest to drill exploratory wells in Arctic waters has received a boost with the affirmation that its federal air permits for the Chukchi Sea were properly granted.

On the Alaska Stand Alone Gas Pipeline – Kenai Peninsula Online – By Paul D. Morrison I had the pleasure of attending a meeting sponsored by the Alaska Stand Alone Gas Pipeline group. Not many people attended but was very …

MySanAntonio.com: Emily Pickrell – Shell president sees Arctic offshore drilling this year Odum said Shell is mindful of the 2010 Deepwater Horizon disaster in the Gulf of Mexico and the criticism BP and others involved received for the conditions leading to the accident and their response.

The Hill: Andrew Restuccia – Administration unveils sweeping plan to protect the country’s oceans “This action plan will help focus our resources on actions that will enhance the stewardship of coastal and marine resources on which so many communities, small businesses, and American jobs depend,” Nancy Sutley, the head of the Council on Environmental Quality and the co-chairwoman of the National Ocean Council, said in a statement. (Comment: This can’t be good. – AG)

CBC News: Natural gas price slump deepens – Improvements in drilling technologies, especially in the fracturing of shale, have created a glut by opened up enormous new deposits, especially in the eastern U.S. states.

KCAW: Ed Ronco – Stedman: Oil taxes, election year politics could show up in session Stedman says a failed proposal to cut oil taxes will come up for discussion again this year, and will be, in his words, “full of misinformation.” He says the idea that oil companies will leave Alaska is “laughable.” He said the Senate objected to Gov. Sean Parnell’s proposal to lower the taxes because it needed more information, and that data supplied by the state didn’t paint a complete picture of the situation.

Alaska Support Industry Alliance Photos, 1-12-12

Tom Walsh

Laurie Fagnani

Mark Hylen

About the Author: wpnorthern

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.