4-17-17 Alaska’s Leaders Bring State To Edge of Fiscal Crisis Cliff — TAX HEARING TONIGHT!

Comment:  In addition to increasing oil taxes in a low oil price era, the Alaska State House of Representatives is advocating recreating an Alaska income tax in an effort to maintain its outrageous, deficit spending on public employees and entitlement programs.  We heartily endorse the comments of the State Senate President, below.    PLEASE SEE THE MESSAGE BELOW FROM CARL PORTMAN (i.e. NGP Photo), RESOURCE DEVELOPMENT COUNCIL FOR ALASKA RE: TODAY'S TAX HEARING!  -dh News from the Alaska State Legislature, the Office of Senate President Pete Kelly JUNEAU – [...]

By |2017-04-17T15:31:52-09:00April 17th, 2017|Alaska Taxes, Alaska's Fiscal Crisis, Commentary|0 Comments

4-14-17 Northrim Bank Economic Forum Today

State gas line agency applies for permission to build Alaska LNG project.  In what the Alaska gas line agency is calling a major achievement, officials on Thursday formally launched its application for federal permission to build a pipeline Alaska Senate, House at odds with session poised to run long.  Leaders of the Republican-led Alaska Senate said Thursday they aren't interested in instituting an income tax or raising oil industry taxes…  Alaska House OKs PFD fund bill with conditions The Alaska House has passed legislation calling for structured draws from [...]

4-13-17 BP Alaska Exploration President Outlines Company’s Alaska Investments In Spite of Low Oil Price Environment

Announcement from Janet L Weiss, President, BP Alaska Exploration, Inc.   Janet L. Weiss. Northern Gas Pipelines file photo by Dave Harbour. Last week, BP issued its 2016 Annual Report and the required 20-F form submitted to the US Securities and Exchange Commission. Unfortunately, the 20-F form only tells part of our BP Alaska business story which has caused some confusion and a number of questions that I want to help address.   Let me be very clear, the BP Alaska Region did lose money (negative cash flow) [...]

4-11-17 So who thinks Alaska LNG is competitive today?

From our Aussie energy analyst; more LNG from the Middle East: So, does a new tranche of Quatarian gas make North American LNG less or more competitive?  Regardless of your answer does anyone dispute that Alaskan Arctic LNG, with the liability of financing an 800 mile pipe in the high cost North, will be the last to be financed (i.e. without government subsidy)?  -dh Last week we reported on the Qatari announcement that the No. 1 gas exporting nation (but not quite No. 1 footballing nation) was lifting its [...]

4-7-17 CELEBRATE PRUDHOE BAY’S 4 DECADES OF PRODUCTIVITY!

Nominate an exceptional Alaska oil and gas project, contractor, or individual today! Marilyn Crockett, former President, AOGA. Northern Gas Pipelines file photo by Dave Harbour AOGA President, Kara Moriarty. Northern Gas Pipelines file photo by Dave Harbour AOGA's annual Industry Awards recognize outstanding contributions to the Alaska oil and gas industry in four categories: Contractor of the Year for Safety Performance Award, sponsored by the Alaska Support Industry Alliance Project of the Year Award for Environmental Stewardship and Innovation, sponsored by Stoel Rives Rising Star [...]

4-6-17 Irresponsible Government Budgets Cry Out For Spending Limit

See our related spending limit commentary, 1-30-17 First warning to lawmakers December 30, 1980 was,"Control spending while you can; it is the CHALLENGE OF PLENTY!" Kudos to the "in the trenches" work of Jeremy Price, Commentary below GUEST COMMENTARY: Budget crisis highlights need for spending cap  By:  Jeremy Price Guest commentary Alaska Journal of Commerce, 04/05/2017 Irresponsible spending by state lawmakers has left us with a multibillion-dollar budget deficit. This latest crisis underscores the need to tighten the state’s “spending cap” on annual expenditures, and a bill recently passed in the [...]

4-5-17 Former Alaska Gasline Development Corporation CEO, Dan Fauske, Passed Away Today

   Former Alaska Gasline Development Corporation and Alaska Housing Finance Corporation Chief Executive Officer Dan Fauske passed away today after a courageous battle against cancer.  Our prayers are with his family.  -dh Dan Fauske. Northern Gas Pipelines file photo by Dave Harbour. “Dan Fauske touched the lives of so many Alaskans, first through his work with the North Slope Borough and later as the head of Alaska Housing Finance Corporation and Alaska Gasline Development Corporation. His work helped generate millions of dollars in construction projects and affordable [...]

4-4-17 The ‘Climate Change’ Farce Becomes More and More Apparent

From our friends at American Energy Alliance: Trust us. This isn't an anomaly. Inside Sources (3/30/17) reports: “Conservatives for Clean Energy seems like a right-leaning environmental group. After all, it has conservative in the name and its website praises “choice and competition” for providing benefits for consumers. Its website explains that the group “educates the public on the benefits of clean and renewable energy sources.” But is the group in fact more green than red? Despite its free market trappings, Conservatives for Clean Energy has financial ties to major [...]

4-3-17 Russia Is Strong In the Arctic — U.S. Better Get Its Act Together!

Note: The US better get its act together if it wishes to be a player in the Arctic.  Russia is on the march.  Alaska is the U.S. Arctic gateway.  Does the U.S. wish to become competitive in an area where the majority of the world's energy reserves are...or, do we play defense against Russian economic and military initiatives.   See our 4-1-17 Russian commentary.  -dh Russian tanker forges path for Arctic shipping super-highway Author: Olesya Astakhova, Reuters SABETTA, Russia — An ice-breaking liquefied natural gas tanker docked for the first [...]

By |2017-04-03T04:36:28-09:00April 3rd, 2017|Arctic Policy, Commentary, Competition, OCS|0 Comments

4-2-17 This Week’s Petroleum News

From Petroleum News Alaska   REI closing down - 04/02/2017 (Full story) Resources Energy Inc., a Japanese company that has been pursuing the potential exporting of liquefied natural gas from the Cook Inlet basin, is closing its Alaska operations. Mary Ann Pease, the company's Alaska vice president, told Petroleum News on March 28 that the company has been unable to secu.... Cook Inlet field shut-in - 04/02/2017 (Full story) In response to a continuing natural gas pipeline leak under Cook Inlet, Hilcorp Alaska has shut in its Middle Ground Shoal oil [...]

By |2017-04-04T09:32:44-09:00April 2nd, 2017|Keystone XL, LNG|0 Comments

4-1-17 IT’S APRIL FOOL’S DAY! But the comment below is real.

Alaska Governor Wants Trump to Back LNG Pipeline “Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy.” —Perth, Scotland, 28 May 1948, in Churchill, Europe Unite: Speeches 1947 & 1948 (London: Cassell, 1950), 347. Our commentary:   As an Alaska citizen and federal taxpayer this writer resents and opposes the suggestion by Alaska's governor that public dollars be wasted on his government-owned, socialist LNG pipedream project: in the form of grants, loans or loan guarantees.     Conservatives and liberals alike should be able [...]

3-31-17 Shale is competitive but how about high cost, Alaska Prudhoe Bay and Alberta Oil Sands?

When we read Frost's, The Road Not Taken, neither he nor we know if the path he took was best.   Courtesy: Pinterest Heaven knows we've opined enough on the effect of hostile government policies on the ability of producers in high cost environments to continue producing taxes and royalties for their governments and profits for their shareholders.  We've encouraged northern Alaska state and Canadian provincial governments to spend more time looking outward -- to better understand global competition.  Instead, politicians on both sides of their national boundaries are [...]

3-30-17 Alaska LNG, State Fiscal Crisis, Worldwide Competition, U.S. Congress

U.S. Senator Lisa Murkowski. Northern Gas Pipelines file photo by Dave Harbour TODAY: U.S. Sen. Lisa Murkowski, R-Alaska, thanked her colleagues for their work to develop and report, en bloc and by voice vote, a total of 65 bills from members of both parties.   The committee approved seven bills introduced by Chairman Murkowski, as well as subcommittee assignments for Sen. Luther Strange, R-Ala.  More..., Yesterday, the Department of the Interior (DOI) Secretary Ryan Zinke issued a Secretarial Order to formally end the coal leasing moratorium and [...]

3-29-17 Governor’s Government LNG Marketing Efforts Cost Much, Produced Little to Nothing

If you had a multi-billion dollar private sector project... Courtesy Buzzfeed. ...would you hire a government bureaucracy to do it for you?   Actually, this is what is happening.  The citizens of Alaska elected a lawyer who takes over a private sector project, flies around Asia and the Lower 48 on marketing trips, and continues to operate LNG marketing offices in Japan and Houston while supporting tax increases on the oil industry and presiding over a state that refuses to significantly cut its operating budget while its subsidized budget [...]

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