Within minutes of Alaska Governor Sean Parnell announcing his run for reelection, Republican Bill Walker announced his candidacy and said the former ConocoPhillips lobbyist would do much for Big Oil, but little for Alaska, Alex DeMarban of the Alaska Dispatch reported yesterday. Walker said the state’s politicians, not the oil companies are to blame for their political successes. “Oil, the lifeblood of Alaska, is dwindling to scary levels as production wanes in two of the nation’s biggest fields,” DeMarban wrote. Walker promised to get a large-diameter gas pipeline built presumably to serve in-state markets.
Earlier in the week, Gov. Parnell went to Norway and the United Kingdom to tout SB-21 and he exaggerated about oil production there. It is declining, just like in Alaska, Pat Forgey, Alaska Dispatch reported on May 1.
On April 30, the Dispatch reported that the Parnell Administration is considering whether the state should be a partial owner in a $65 billion Liquified Natural Gas project. One of the items under consideration is whether the state would take its 12.5% royalty on the LNG in the LNG itself or the value of the resource in cash.
Meanwhile, AK State Senator Peter Micciche put on his Conoco supervisor’s hat and traveled to Houston, TX after the legislative session ended to present at the LNG 17 Forum, Naomi Klouda of the Dispatch reported on April 27.
Finally, ConocoPhillips posted over $500 million in first quarter profits, but the proponents of SB-21 were crying poverty for the oil companies, and oil production declined 25% over the past eight years despite investments.
We do not have any updates on the effort to repeal SB-21 as covered in a prior report.
H/T Lynda Armstrong, The Teacher’s Daughter….A Tribute to Sarah Palin