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By Tim Bradner It’s easy to feel uneasy about our state’s petroleum industry right now. Let me cite some reasons: Crude oil prices are still down. They are slowly rising but conventional wisdom is that $60 per barrel may be a kind of price ceiling, the threshold where those prolific... Continue reading
Posted Mar 3, 2017 at Alaskanomics
By: Blythe Campbell The U.S. Energy Information Administration (EIA) has released some new estimates for 2015 energy consumption, prices and spending. Final data will be released in June 2017. Jet fuel estimates were updated in October 2016 for 2015. According to the Alaska Department of Natural Resources, in their December... Continue reading
Posted Dec 8, 2016 at Alaskanomics
By: Mouhcine Guettabi, Institute of Social & Economic Research A combination of declining oil production and low oil prices has left the state budget billions of dollars in the red. But how has that big drop in oil prices affected the Alaska economy so far? Mouhcine Guettabi, an assistant professor... Continue reading
Posted Nov 11, 2016 at Alaskanomics
By Larry Persily (Larry Persily, assistant to the Kenai Peninsula Borough mayor, was invited to participate in an LNG conference in Vancouver, B.C., and prepared this report as part of the borough’s ongoing efforts to share information about global LNG market developments. The conference paid the travel expenses.) A... Continue reading
Posted Nov 9, 2016 at Alaskanomics
By Scott Goldsmith: The Alaska economy contracted at a 1.4 percent annual rate in the first quarter of 2016 according to the final count by the Alaska Department of Labor. Employment was 4.5 thousand lower in the first quarter than the previous year. Growth slowed through early 2015 and turned... Continue reading
Posted Oct 13, 2016 at Alaskanomics
By Tim Bradner It seems inevitable that state of Alaska finances will soon be closely linked to performance of the state’s Permanent Fund. That has caused many Alaskans to look closely at how this change could affect the Fund’s management, and at the institutional protections for the Fund built into... Continue reading
Posted Aug 23, 2016 at Alaskanomics
By: Larry Persily Alaska LNG’s second round of draft resource reports Nos. 1 through 10 have been filed with the Federal Energy Regulatory Commission and are available on the Kenai Peninsula Borough website. Click here to select and download the reports. The project expects to file its last two draft... Continue reading
Posted Aug 5, 2016 at Alaskanomics
By Larry Persily July 20, 2016 Alaska LNG’s resource reports to the Federal Energy Regulatory Commission are available on the Kenai Peninsula Borough website. Click here and select the report. As of July 20, Report No. 1 General Project Description and No. 10 Project Alternatives are available on the website;... Continue reading
Posted Jul 20, 2016 at Alaskanomics
By Scott Goldsmith The 2015 Alaska population was virtually unchanged from a year earlier at 737.6 thousand according to the Alaska Department of Labor. Natural increase (births minus deaths) was almost entirely offset by net out-migration of 6.8 thousand. This was the third year in a row that the number... Continue reading
Posted Jun 15, 2016 at Alaskanomics
As seen in the Juneau Empire By: James Brooks, State Reporter JUNEAU — After 137 days in regular and special session, the Alaska Legislature may be nearing an end to its work. “I know we’re not done yet, but I think we’re close,” Senate President Kevin Meyer, R-Anchorage, declared on... Continue reading
Posted Jun 9, 2016 at Alaskanomics
By: Scott Goldsmith Final 2015 employment data reported by the Alaska Department of Labor shows a clear trend of growth slowing over the year and turning negative in the last quarter. Even though the overall growth rate of employment for the year was .4 percent, by the end of 2015... Continue reading
Posted May 31, 2016 at Alaskanomics
As seen in the Alaska Journal of Commerce By: Andrew Jensen Managing Editor I want my, I want my, I want my PFD. With apologies to Dire Straits, the demagogues in the Democrat ranks are back in their comfort zone after dismantling oil and gas tax credits they once championed... Continue reading
Posted May 19, 2016 at Alaskanomics
Written by Larry Persily for the Oil and Gas news brief email April 26, 2016 (This update, provided by the Kenai Peninsula Borough mayor’s office, is part of an ongoing effort to help keep the public informed about the Alaska LNG project.) Alaska LNG’s next round of environmental and construction... Continue reading
Posted Apr 28, 2016 at Alaskanomics
As seen in the Alaska Dispatch News, written by Former Lieutenant Governors Fran Ulmer and Mead Treadwell We have a $4 billion deficit, and Alaska’s government is dependent on one source of revenue: oil, which has dropped in value and quantity. Even if we eliminate every state agency in Alaska,... Continue reading
Posted Apr 6, 2016 at Alaskanomics
As seen in various Alaska publications. We thought the fight was over when voters rejected Ballot Measure 1, which sought to repeal SB 21, the More Alaska Production Act. But here we are, less than two years later, facing another battle over oil taxes. Gov. Bill Walker has introduced legislation... Continue reading
Posted Mar 18, 2016 at Alaskanomics
By Tim Bradner In the din of intense debate, like what’s happening right now in Juneau, it’s hard to hear history knocking at the door. But in fact I hear knocking. Here we are–at a pivotal point in our state’s history. We’re facing a tough set of facts: Oil prices... Continue reading
Posted Mar 8, 2016 at Alaskanomics
Alaska has the tools and assets to ‘reset’ our government revenue and expenditure allocations by exerting more discipline in the fiscal process. This will be done through legislative and administrative actions in the upcoming legislative session and future sessions. As a state, we have more going for us with financial... Continue reading
Posted Jan 5, 2016 at Alaskanomics
By: Scott Goldsmith Alaska wage and salary employment continued to grow in the first half of 2015 according to the latest information from the Alaska Department of Labor. Increased private sector employment more than offset a decline in public, mostly state government, employment. However growth slowed over the first two... Continue reading
Posted Nov 25, 2015 at Alaskanomics
From Larry Persily's Oil and Gas News Brief (Financial Times; London; Nov. 10) - The oil market will remain oversupplied until the end of the decade as the push for cleaner fuels and greater efficiency offsets the effect of lower prices, the world’s leading energy forecaster said. In its annual... Continue reading
Posted Nov 16, 2015 at Alaskanomics
By Tim Bradner Gov. Bill Walker will roll out his Fiscal Year 2017 budget proposal fairly soon. The statutory deadline is Dec. 15 but the governor is working to get parts of it out earlier. What will really grab peoples’ attention; however, are revenue measures Walker says he will propose,... Continue reading
Posted Nov 12, 2015 at Alaskanomics
By Tim Bradner Alaska community and business leaders are closely watching developments on the big Alaska LNG Project this summer. North Slope producing companies and the state of Alaska, which are in a partnership on the project, are engaged in preliminary engineering and environmental work, and key decisions are pending... Continue reading
Posted Aug 4, 2015 at Alaskanomics
By Tim Bradner How does one explain the extended budget gridlock and political squabbling in the Legislature this year? The session was supposed to end April 19 but it has been extended in special sessions as lawmakers wrestled with difficult funding problems. It took two special sessions, the first called... Continue reading
Posted Jun 15, 2015 at Alaskanomics
By Mark Edwards Personal income rises 6% mainly due to government transfer payments - Total personal income for Alaska was $39.3 billion in the third quarter of 2014, according to data released by the U.S. Department of Commerce Bureau of Economic Analysis. This is an increase of $2.2 billion compared... Continue reading
Posted Mar 26, 2015 at Alaskanomics
By Mark Edwards In our last post, we discussed the falling oil prices and the possible impact on the economy. Today we will look at jobs, unemployment, and population. Payroll jobs increase only 0.3% in 2013 and 2014. No growth predicted in 2015 - Alaska's payroll job count increased by... Continue reading
Posted Mar 24, 2015 at Alaskanomics
Alaska Legislative Digest- Supplemental Commentary By: Mike Bradner Sen. Bill Wielechowski has introduced a proposed constitutional amendment, SJR-1, that would constitutionalize the Permanent Fund dividend. This would essentially take Fund income off the table for spending on the basic purposes of government, such as schools, health and social needs, public... Continue reading
Posted Mar 11, 2015 at Alaskanomics