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Thread: A couple oil and gas articles of interest . .

  1. #1
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    Lightbulb A couple oil and gas articles of interest . .

    An acquaintance with ties to the industry sent me these stories from Petroleum News . . of possible interest to others as well . .



    Does Southcentral Alaska need to import liquefied natural gas?


    That’s been a growing concern in recent years as production of Cook Inlet natural gas declined.
    But Hilcorp Alaska — now the region’s major oil and gas producer — says the gas resource exists to meet expected demands.


    Hilcorp assumed a dominant role in crude oil production in Southcentral when it acquired Chevron’s Cook Inlet assets at the beginning of 2012 and since closing on acquisition of Marathon’s Cook Inlet assets early this year it has also become the dominant producer of natural gas.

    —read the entire article here: http://www.petroleumnews.com/pntruncate/804141353.shtml

    *******************


    Gov. Sean Parnell didn’t rest on his laurels after getting the Legislature’s approval for oil tax changes. Since the session ended, Parnell’s been busy learning firsthand about other tax regimes with visits to Scotland and Norway; traveling to Houston to build a resource development consensus among....


    —log in/subscibe for the rest of the story here: http://www.petroleumnews.com/pntruncate/941837038.shtml


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    Default so important...

    Thanks for the links.

    In this busy fishing season it is easy to forget that our state thrives on oil and gas, and we would ALL be a lot WORSE OFF without the contributions that the oil and gas industries makes to better our everyday lifes.


    Quote Originally Posted by Marcus View Post
    An acquaintance with ties to the industry sent me these stories from Petroleum News . . of possible interest to others as well . .


    Does Southcentral Alaska need to import liquefied natural gas?


    That’s been a growing concern in recent years as production of Cook Inlet natural gas declined.
    But Hilcorp Alaska — now the region’s major oil and gas producer — says the gas resource exists to meet expected demands.


    Hilcorp assumed a dominant role in crude oil production in Southcentral when it acquired Chevron’s Cook Inlet assets at the beginning of 2012 and since closing on acquisition of Marathon’s Cook Inlet assets early this year it has also become the dominant producer of natural gas.

    —read the entire article here: http://www.petroleumnews.com/pntruncate/804141353.shtml

    *******************


    Gov. Sean Parnell didn’t rest on his laurels after getting the Legislature’s approval for oil tax changes. Since the session ended, Parnell’s been busy learning firsthand about other tax regimes with visits to Scotland and Norway; traveling to Houston to build a resource development consensus among....


    —log in/subscibe for the rest of the story here: http://www.petroleumnews.com/pntruncate/941837038.shtml

    Living the urban lifestyle so I can pay my way and for my family's needs, and support my country. And you?
    ".. ask not what your country can do for you, ask what you can do for your country" JFK

  3. #3
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    Thumbs up Resources, resources, resources . . .

    Quote Originally Posted by tvfinak View Post
    Thanks for the links.

    In this busy fishing season it is easy to forget that our state thrives on oil and gas, and we would ALL be a lot WORSE OFF without the contributions that the oil and gas industries makes to better our everyday lifes.

    You're welcome. Agriculture opened the lower 48 . . that ain't gonna happen up here.


    Resource development will open Alaska as it is doing already . . mining, fisheries, oil, timber, and more.


    Some informed sources believe that Rare Earth mining in Alaska is our state's next boom.

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    Default taxes and the future...


    Mining certainly helped bring people to Alaska in the past but nothing like the oil industry has done. Mining could certainly be another boom especially if we used out natural gas to process and refine the ore.

    But mining, like timber, tourism, and fisheries, contributes very little to the general tax reveues for the state. Their total contributions, COMBINED, are LESS THAN 10% of the state's general tax revenues. Unless the state makes some drastic changes to our tax structure we are going to continue to be almost totally dependent on oil and federal spending to fund our state government's programs. And with both oil production and govt' spending on the decline, there are going to be some tough choices to be make in the very near future. Obviously either a lot of state benefits will have to be cut or some of the tax burden shifted to mining, timber, fisheries, tourism, or anything else the state can tax.

    BTW- did anyone ever see any figures on what the Pebble project is estimated to add to the state's tax base?



    Quote Originally Posted by Marcus View Post

    You're welcome. Agriculture opened the lower 48 . . that ain't gonna happen up here.


    Resource development will open Alaska as it is doing already . . mining, fisheries, oil, timber, and more.


    Some informed sources believe that Rare Earth mining in Alaska is our state's next boom.
    Living the urban lifestyle so I can pay my way and for my family's needs, and support my country. And you?
    ".. ask not what your country can do for you, ask what you can do for your country" JFK

  5. #5
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    Lightbulb The diverse economics of social order . .

    FACTS AND FIGURES

    Oil and Gas has Been Good to Alaska, Providing Jobs and Revenue
    • The petroleum industry supports one-third of all Alaska jobs, generating 110,000 jobs throughout the state.
    • For future generations, a portion of the state’s oil revenues was set aside in 1976. Now the Alaska Permanent Fund distributes an annual dividend to every eligible Alaskan.
    • Since the annual dividend started being distributed in 1982, a family of four has received a total of $133,461.
    • As of August 2011, the Alaska Permanent Fund was worth approximately $38 billion.
    • A family of four received an estimated $22,000 in value from the oil industry in 2010.
    • The State of Alaska has collected $157 billion (in today’s dollars) from oil since 1959.
    • Oil and gas revenues continue to dominate the state’s unrestricted revenue stream, accounting for 89 percent, or just over $6 billion in fiscal year (FY) 2010.

    ************************

    Alaska’s Mining Industry

    Background
    Historically, mining has been a cornerstone of Alaska’s economy. Many roads, docks and other infrastructure throughout Alaska were originally constructed to serve the mining industry. Major communities like Fairbanks, Juneau and Nome were founded on mining activity. Today, a rejuvenated mining industry brings a broad range of benefits to Alaska, offering some of the highest paying jobs in both urban and rural Alaska, as well as generating significant local government tax payments and royalties to Native corporations for activity on their land.


    Alaska’s mining industry includes exploration, mine development, and production. The industry produces zinc, lead, copper, gold, silver, coal, as well as construction minerals such as sand, gravel and rock. Alaska’s seven large operating mines (Fort Knox, Greens Creek, Red Dog, Usibelli, Pogo, Kensington, and Nixon Fork) provided more than 2,250 full-time jobs of the nearly 9,500 mining industry jobs in Alaska last year.
    In addition to jobs, mining creates public revenue by paying state and local taxes. Mines help support local economies in both urban and rural Alaska with mining companies serving as the largest taxpayers in the City and Borough of Juneau, the Fairbanks North Star Borough, the Denali Borough, and the Northwest Arctic Borough.


    Worldwide interest in Alaska’s mineral potential is increasing, along with its accompanying spending. The State estimates the mining industry spent $300 million on exploration during 2011, a 13 percent increase over 2010. Driving exploration is demand for metals, primarily from Asian countries like China, Japan, and India. Development spending in 2011 actually decreased from the prior year, down to $175 million.

    *************************

    Commercial Fisheries

    Alaska's vast waters are home to some of the most productive commercial fisheries in the world. The seafood industry contributes 78,500 jobs to the Alaskan economy and an estimated $5.8 billion annually with Bristol Bay sockeye salmon, Bering Sea crab and pollock representing some of the largest salmon, crab, and whitefish fisheries in the world. Alaska's fisheries are managed based on careful monitoring and scientific assessment, and are regarded as a
    model of successful natural resource stewardship.



    ************************



    Add to the above our tourism and timber industries, small businesses and much more, and it's apparent that a number of important factors drive Alaska's economy. Important as are the various revenue streams, primarily from oi and gasl, finding their way into the state's coffers, such revenue is dwarfed by the economic impact of all the jobs and paychecks attendant to maintaining the infrastructure of any society. Without a supporting infrastructure, developed and maintained by a diverse economic spectrum, the oil industry wouldn't be here. As John Donne said, "No man is an island . . " The same applies to the various factors supporting modern society . . none of them can stand alone. Each contributes its share.


    Alaska is still growing with potential beyond our imaginations . . mining, particularly in pursuit of Rare Earth, holds great promise for our state's future and our welfare.

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