Economy

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

After leaving Trump administration, Balash will work for oil company that’s developing an Alaska project

Joe Balash, the high-level Alaskan appointee at the U.S. Department of the Interior who pushed to open the Arctic National Wildlife Refuge to oil leasing, is taking a job with an oil company seeking to develop a major project in Alaska.

Democratic presidential candidates spent seven hours talking climate change. Alaska wasn’t discussed.

In the first-ever prime-time presidential climate change forum, Democratics spent seven hours on the issue. But there was no substantive discussion of Alaska, even though the state is one of the most affected by global warming.

A year after a dam was removed, this river near Anchorage is still waiting for water

The effort to remove the dam on the lower Eklutna River couldn’t succeed on its own because upstream, utilities divert the river into a hydroelectric power plant. Officials say it will take years before they decide whether to add more water that could help restore salmon.
pipeline

A Colorado wildcatter found a huge new North Slope oil field. Now it’s buying up new federal leases in Alaska.

Armstrong Oil and Gas, which found and then sold a mammoth field on Alaska's North Slope, just bought up about 1 million acres in oil leases in the National Petroleum Reserve.

Alaska utility regulators ask Hilcorp, BP for more details on $5.6B deal

The Regulatory Commission of Alaska is asking the companies for five new sets of documents. They include the purchase and sale agreement, charts detailing the companies' corporate ownership and operating structure, and additional financial statements.

Our reporter is trying to learn more about Hilcorp. Here’s how you can help.

Alaska's Energy Desk reporter Nat Herz is exploring Hilcorp's company culture as it's set to become one of the biggest players in Alaska's oil industry. He's written an open letter to Hilcorp employees asking for their help.
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LISTEN: A Washington Post correspondent talks about reporting on climate change on Alaska’s North Slope

The Washington Post made the Alaska North Slope village of Nuiqsut front page news earlier this month, under a provocative headline: "Alaska's warming, but can't quit big oil." We talked with the reporter who wrote the story.

As Anchorage warms, wintertime is defined by ice as much as snow

For many in Anchorage, winter and its accompanying outdoor opportunities are something to relish rather than escape. But residents of the state’s largest city are being forced to renegotiate their relationship with winters.

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.
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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.