We believe Langland’s Counsel to Alaska’s Business and Political Leaders Will Be Especially Critical in Wake of the GOM Tragedy and Potential Alaska Impact (See Alaskanomics, Northrim’s new website!)

Economics 101.  On April 6 at Anchorage’s Denaina Convention Center, Northrim Bank Chairman Marc Langland issued a challenge that Alaska’s business and political address state fiscal policy issues.  Your author asked the event host for his perception of Economics 101 and Alaska’s oil tax policy.  We  are happy that the Alaska Standard obtained Langland’s response: a pithy and useful economics review.  Northrim hosted the luncheon briefing for business leaders to discuss an "Alaska Economic Overview", prepared by bank economist Mark Edwards, supported by private economist Dan Dickinson (NGP Photo-r; see his relevant Op-ed, here).  We surmise that in wake of the Gulf of Mexico oil spill tragedy, Alaskans will have to be more attuned than ever to protecting their ability to safely develop life and job saving oil and gas jobs locally.  Langland’s admonition that, "…taxes at the level they are right now destroys the upside of the oil industry.   So why would I go to Alaska right now when I could go to Indonesia and have a much higher return with a lesser cost.   That’s the world market we have to deal with.  That’s reality."  (Photo, left includes Marc Langland speaking, Dan Dickinson and Mark Edwards, far right)  -dh

Energy Business Reports.  Having witnessed in 2008 the first major signal that future conventional oil and gas supplies will become much harder to find and more expensive to develop, we are publishing this analysis of deep water production around the world. As secure energy supplies become increasingly difficult and expensive to extract, an accurate forecast of supply/demand dynamics becomes more important. 

CBC.  The Canadian Coast Guard plans to offer oil spill response training in Resolute, Nunavut, this summer, as concerns grow about the risks of oil slicks in the Arctic.