Economy

All Alaska economy and business news, including the Alaska Economic Report.

Are big energy projects the solution for Alaska’s budget crisis?

What's the prognosis for big energy projects in Alaska? Shell's abandoned the Arctic and state lawmakers are about to duke it out over an expensive new natural gas line. We'll dig into fossil fuel projects. Is the proposed gas line a real solution for the state's budget crisis or CPR on a flailing economy? APRN: Tuesday, Oct. 20, 2015 at 10:00am Download Audio

Sun sets on Shell Oil’s Arctic quest

Shell Oil's Polar Pioneer rig left Alaska's Dutch Harbor for Port Angeles, Washington, on Wednesday. The energy giant's other Arctic rig, the Noble Discoverer, left Dutch Harbor for Everett, Washington, on Monday.

Shell oil rigs leave the Arctic, skip Seattle

Shell's two Arctic oil rigs pulled into Unalaska's Dutch Harbor on Sunday, some 1,100 miles south of the company's drilling site in the Chukchi Sea. Download Audio

Why did Shell walk away from Alaska?

Shell’s announcement left the state wondering what to blame -- low oil prices? Tough regulations? Better prospects elsewhere? In other words, is it us -- or is it Shell? Download Audio

US House passes Native energy bill; White House threatens veto

The U.S. House on Thursday passed the Native American Energy Act, sponsored by Alaska Congressman Don Young. Young says the bill would encourage resource development on Indian land by cutting red tape and limiting legal challenges. Opponents say it would undermine environmental law. Download Audio

Anchorage advances purchase plan for Conoco gas leases

As state officials ready for a special session, Anchorage is moving one step closer to expanding ownership over nearby gas fields in upper Cook Inlet. Download Audio

Volcano farts: Scientists look to gas for beta on atmosphere, geothermal resource

In September, a team of scientists crawled around the summit of seven volcanoes in the Aleutian Islands. They updated seismic sensors, replaced 8,000 pounds of batteries and visited one summit that geologists hadn't been to since the 1940s. Download Audio

In Unalaska, some feel the pinch of Shell’s withdrawal

The news that Shell Oil was abandoning its quest for oil in the Arctic Ocean came as a shock in Unalaska and around the state. Unalaska officials said the move won’t hit the city’s budget too hard. But local companies doing business with Shell are scrambling to figure out what it will mean for them.

Ruling backs Shell’s use of Seattle homeport for its fleet

A hearing examiner says Seattle officials erred when they said the Port of Seattle couldn't host Shell Oil's Arctic drilling fleet under its current permit.

Arctic Energy Summit focuses on both fossil fuels and renewables

Representatives from across the circumpolar North are meeting this week in Fairbanks for the Arctic Energy Summit. Download Audio

Reactions to Shell’s decision range from remorse to relief

Governor Bill Walker is calling Shell’s announcement a "huge disappointment." He says the end of Shell’s offshore dreams means the state must push harder for the federal government to allow drilling in another controversial region -- the Arctic National Wildlife Refuge.

Shell pulls out of the Arctic, citing lack of resource

After sinking eight years and more than $8 billion into the effort, Shell Oil is pulling out of the Arctic Ocean. The company dropped the surprising news in a Sunday-night press release. Download Audio

Murkowski calls Shell pull-out a ‘kick in the gut’

Sen. Lisa Murkowski says news that Shell is pulling out of the Alaska Arctic hit her hard. Download Audio

Murkowski: Shell decision shows how feds ‘chase business away’

Sen. Lisa Murkowski says news that Shell is pulling out of the Alaskan Arctic hit her hard. “Heartsick. Kick in the gut. Just really devastated," she said. Murkowski says dry holes are a fact of oil exploration, but she blames the federal government for curtailing Shell.

Shell to abandon Arctic offshore drilling ‘for the foreseeable future’

Shell Oil announced late Sunday night that it is abandoning offshore drilling in Alaska “for the foreseeable future.”

Shell to abandon Arctic offshore drilling ‘for the foreseeable future’

Shell Oil announced late Sunday night that it is abandoning offshore drilling in Alaska “for the foreseeable future.”

Gov. Walker calls special session on new gas tax, pipeline buyout

Gov. Bill Walker on Thursday formally called the Alaska Legislature back to Juneau for a third special session this year. His proclamation calls for considering two topics: A tax targeting undeveloped natural gas still in the ground, and buying out Canadian pipeline builder TransCanada’s ownership stake in a proposed natural gas pipeline. In a press release, Walker likened the state’s unproduced natural gas reserves as milk with no expiration date. He says taxing it serves as an insurance policy against the "significant risk of never monetizing” the gas.

Cook Inlet companies defend oil and gas tax credits

As Alaska continues to grapple with a major budget shortfall, one line item promises to be particularly controversial: tax credits for oil and gas producers.

Religion and climate change – can you talk about both?

Is climate change a religious issue? A group of Alaskans says yes, and a national survey supports them, for some groups. Alaskans joined together this weekend in Anchorage for an interfaith Earth Care Jamboree. Download Audio

Shell rig back on grind after storm-induced hiatus

The president of Shell Oil Co. says exploratory drilling off Alaska's northwest coast is going well despite stormy weather last week that caused the company to halt operations for a few days. Download Audio