Thankful for the LNG family. According to a Your Link Alaska interview, Governor Walker is scheduled to be in Tokyo on Thanksgiving, November 24th, to attend the one-day LNG Producer-Consumer Conference 2016. The Governor announced that “Thanksgiving will be with chopsticks this year” as he has repeatedly spent time in Asia recently to examine Alaska’s lucrative energy capabilities in the region.  

Scott Goldsmith of the University of Alaska Anchorage Institute of Social and Economic Research commented on a Department of Revenue report examining Alaska’s fiscal situation. According to Goldsmith, it is hard to determine how oil credits increase activity or merely provide additional revenue to the industry. Moreover, that the dependence on oil revenue is not sustainable. “The perceived needs are boundless,” Goldsmith said. “Politically speaking, if revenues are available it’s very difficult for the legislature and governor to say no when a case is made for an expenditure. It’s easier to argue for the need than to argue that money should be set aside.”  Headlamp would argue that it isn’t difficult to determine if oil credits increase activity. More jobs, more money spent in the local economies, more revenue to the state. $7 billion in credits led to $62 billion in revenue for the state.  That’s activity!! 

Joe Eddy, president and chief executive officer of Eagle Manufacturing Company in Wellsburg, penned an op-ed highlighting the many uses of oil and gas in other products, “More than 6,000 common products contain refined oil and natural gas. These include shoes, clothing, electronics, toys, pharmaceuticals, cosmetics and many other items the majority of us consider essential for modern life. The components that make up these items, such as plastics, fabrics and rubber, are derived from oil and natural gas.”

To close, Headlamp reminds our readers that it’s Election Day! Get out there and exercise your right as Americans to vote! For those living in Alaska you can find your polling station here.

 

First Reads

Governor Bill Walker: "Thanksgiving Will Be With Chopsticks This Year"
Your Link Alaska, Maria Athens, November 7, 2016

Follow the money: how indirect expenditures amount to billions in lost revenue
Alaska Journal of Commerce, Stephanie Prokop, November 7, 2016

Edward Itta remembered for balancing two worlds
Alaska Public Radio News, Rachel Waldholz, November 7, 2016

Sandvik no longer president of NANA Development amid 'consolidation'
Alaska Dispatch News, Annie Zak, November 5, 2016

Oil, Gas Important in Ways Other Than Use as Fuels
The Intelligencer, Joe Eddy, November 6, 2016

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