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Author: Saira

Economic Report 17-2018

Economic Report 17-2018

Oct. 29, 2018 In this Issue: Governor’s race – stakes are high: Republican Dunleavy said to have edge Broadband consumer costs in rural Alaska could be cut: Plan for new Alaska telecom satellite; contracts near Permanent Fund dividends hit the streets: $940 million roll into bank accounts; cash registers jingle Timber:Mat-Su timber project on hold; China flap is blamed Economy:Here are the numbers for Alaskans’ annual fall rite: Moose hunting Transportation:Maersk finished Arctic test runRavn owners buy PenAirCoal exports from Adak?…

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Economic Report 16-2018

Economic Report 16-2018

Oct. 19, 2018 In this Special Issue: Riding Higher Oil Prices and POMV; Alaska’s Finances Look Up Caution raised, however, on new use of Permanent Fund earnings With some luck – and higher oil prices – Alaska’s budget deficit may be significantly smaller than forecast this year. The state could even see a balanced budget. 

Economic Report 15-2018

Economic Report 15-2018

Sept. 24, 2018 In this Issue: Permanent Fund contribution to state budget will increase Health Care:Opposition stirs to proposed state health authority Transportation:Fuel shipments by sea to slopeShort reroute on Dalton Highway Energy:More LNG storage in FairbanksPrivate solar project in Mat-SuGVEA’s Healy 2 coal plant on line Politics: Three-way governor’s race unpredictableIs Walker being squeezed between Begich, Dunleavy?Begich swings left, endorses salmon initiativeWalker runs on record of addressing state’s fiscal challenge Petroleum:Latest Nenana Basin well is dryCaelus tight on Smith…

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Current News

Current News

Year-to-date North Slope production shows sharp falloff North Slope production Alaska North Slope production is running 17,402 b/d below 2017 for the first 10 months of the year, compared with the same 10-month period of January through October, 2017, according to data provided by the state Department of Revenue. The annual average for the year to date totals 505,184 b/d for the 10-month period compared with 522,586 b/d for the same period of 2018, the data shows. The figures are…

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Minerals

Minerals

Permit work to start on Arctic Trilogy Metals Inc. is now engaged in pre-permitting work on its planned Arctic project, which is mainly copper, with work on a Draft Environmental Impact Statement for development set to begin early next year, company officials told business leaders in Anchorage in early October. On a parallel track, the U.S. Bureau of Land Management is working on plans for an 311-mile access road to the Ambler Mining District from the Dalton Highway, with the…

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Petroleum

Petroleum

Work on GMT-2 starts this winter ConocoPhillips approved construction of the GMT-2 project in the National Petroleum Reserve-Alaska after the U.S. Bureau of Land Management approved its Record of Decision for the project. Construction will start this winter. The plan is for a 14-acre drill pad supporting up to 48 wells, an 8.2 mile road and an 8.6 mile pipeline. The road and pipeline connect with GMT-1 and the CD-5 production site further east, and ultimately the Alpine field on…

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Fisheries

Fisheries

State fisheries board turns down request to curtail hatcheries The state Board of Fisheries denied a request Oct. 16 by sport fishing groups to rollback hatchery releases of salmon fry statewide and approved an expansion for Valdez Fisheries Development Corp., operator of the Solomon Gulch hatchery in Prince William Sound. Sports groups argued that increasing numbers of hatchery-released fish are competing with wild salmon for food in the ocean. Commercial fish groups argued the science is uncertain, and hatcheries are…

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Business Intelligence

Business Intelligence

Permanent Fund will set allocation for in-state investment The Alaska Permanent Fund will allocate up to $200 million in a special fund for Alaskan investments and hire a special manager to manage the program, Fund managers said. Under guidelines set by the Board of Trustees the investments will have to be capable of earning what the funds would have returned if invested out of state. The goal is to also attract other investors to join the Fund in projects, to…

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Telecom

Telecom

GCI hit with cut to federal support General Communications Inc., a major Alaska telecom provider, will see federal payments to support rural health internet service of $77.8 million next year, or $28 million less than the company requested to cover its costs. The new rate finding follows a proceeding involving support payments under the Federal Communication Commission’s Rural Health Care program where the FCC paid subsidies to Alaska telecom operators to cover cost differential between internet service to rural health…

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Energy

Energy

Electricity consumption dropping Energy Consumer use of electricity is dropping due to wider adoption of energy conservation practices. Chugach Electric Association said usage of electricity per residential member has dropped 14 percent since 2004. While weather and the trend toward warmer winters accounts for some of this, the primary driver is energy efficiency. While this has the effect of reducing natural gas demand, and conserving regional gas supplies, it increases the percentage of renewable energy from hydro and wind in…

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