Economy

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

Polar bear protections delayed oil exploration in the Arctic Refuge. A new study shows how companies can still move forward.

A new study says that by using infrared sensors to detect dens, and accepting strict limits on when to survey specific areas of the coastal plain, polar bear disturbance can be dramatically reduced – from as many as eight dens if no restrictions are abided by, to one or less using the most conservative approach.

Opening the Arctic Refuge brought Alaska’s largest Native corporation $22.5 million from BP and Chevron

Arctic Slope Regional Corp. collected $22.5 million from a pair of oil companies after Congress opened the Arctic National Wildlife Refuge’s coastal plain to drilling in 2017, according to corporate documents.

Agency overseeing BP-Hilcorp deal will hold public hearing, denying companies’ request

The Regulatory Commission of Alaska, which is overseeing Hilcorp's purchase of BP's stake in the trans-Alaska pipeline, plans to hold a six-hour public hearing on the deal next month.

An Anchorage attorney made a fortune fighting Big Oil in Alaska court. Now he’s funding the campaign to raise their taxes.

Frustrated by the industry-supported overhaul of oil taxes in 2013 and the unsuccessful campaign to repeal it, Robin Brena is chairing the citizens initiative to raise taxes. And he’s also the effort’s top funder, contributing more than $100,000 so far.

On warming North Slope, one flood response last year cost pipeline operator $10 million

As Alaska's North Slope gets wetter and warmer, its rivers have been running at record high levels -- prompting questions about whether similar events will become more frequent as Alaska's climate warms.

Goldman Sachs, in Arctic drilling tiff with Alaska governor, hires veteran Juneau lobbyist

In response to Goldman's announcement that it would not finance oil drilling in the Arctic National Wildlife Refuge, Alaska's governor suggested he could cut off the millions of dollars a year that the state pays the Wall Street firm. Now Goldman is playing defense: Last week, it hired a lobbyist, Wendy Chamberlain, to represent its interests in the state.

Anxiety creeps into oil-dependent Alaska as banks step back from Arctic investment

An aggressive advocacy campaign against banks' involvement in Arctic oil means that Alaska companies are facing more obstacles to raise the cash they need. They've responded by tailoring their pitches to financial institutions, as Alaska lawmakers fight back.

Hilcorp revived this declining North Slope oil field. Can it do the same for Prudhoe Bay?

While many North Slope fields are only the decline, production at Hilcorp's Milne Point has actually increased by huge amounts. Now, the company is acquiring the massive Prudhoe Bay field, raising hopes of a similar revival there.

To guard against coronavirus, Alaska oil companies are screening workers before flights to the North Slope

The companies met last week and agreed to "start screening all of their workers when they check in in Anchorage," said Heidi Hedberg, Alaska's public health director.

Pandemic relief bill is the biggest thing Congress has done to battle climate change in years

Advocates credit Sen. Murkowski. “It's certainly the largest clean energy and climate bill in a decade,” said one.
Television host interviews guests over Zoom.

Tracking permafrost thaw will help Alaska communities better adapt to climate change | Alaska Insight

A new program called Permafrost Pathways has a dual aim of measuring greenhouse gas emissions and supporting community adaptation ideas.
A big boxy building with a smokestack next to it sending up steam

Feds award $9M to research carbon capture for proposed Southcentral Alaska coal power plant

Carbon capture storage is drawing attention at the state level, though critics say it’s expensive and may not have a large impact on emissions.
Rows of solar panels stretching off into the distance.

Chugach Electric offers its support for renewable energy benchmarks

A renewable portfolio standard would require Railbelt utilities to ramp up renewables. Chugach is the first Railbelt utility to publicly back it.

USDA boosts energy grants to help rural businesses, farmers, others

The federal Department of Agriculture is offering grants to help people who live and work in Alaska’s rural areas reduce their energy costs.
a volcano

Unalaska positions to walk away from geothermal agreement

A Friday memo from Unalaska's administration advises against renewing a power purchase agreement in the Makushin Volcano geothermal project.
a white, snowy landscape of a dam covered in snow and mountains covered in snow.

Anchorage Assembly preps for legal fight with Bronson administration over future of Eklutna Dam

The Assembly and administration have major differences over who sets the policy and what the city’s position actually is.
Massive industrial conveyor belt and loading equipment on a dock in a cloudy harbor.

Coal loading equipment in Seward is set to be demolished, likely a permanent end to Alaska coal exports

The Seward coal loading dock has sat idle since 2016 after demand for Alaska coal exports collapsed, one sign of the global energy transition. 
A man on a ladder installs a piece of equipment on the upper part of a wall.

Alaska creates climate plan to reduce statewide emissions and fund a wide range of sustainable energy projects

The state identified almost a billion dollars in need for projects that would help lower energy costs for an EPA grant program. 
Solar panels stretching off into the distance connected by electrical wire.

Railbelt electric utilities are facing a major energy crunch. Renewables may be the answer.

The region’s electric grid needs to find a replacement for Cook Inlet natural gas. One study suggests over the long term, the cheapest option is to ramp up renewable energy.