Friday’s Fast Five

Headlamp wants our followers to always be up to date with the developments in Alaska’s economy, politics, and industry. Check out this week’s rundown of the stories effecting you.

Top Story of the Week

Prudhoe Bay producers announced that due to low oil prices and fiscal uncertainty, the 5 active rigs will be reduced to two. Production will be affected and hundreds of jobs are expected to be lost to the slowdown.

Top Reads of the Week

Oil Prices Perk Up, Suggesting a Rebound Has Taken Hold
Alaska Dispatch News, Alex DeMarban, March 3, 2016
After a prolonged slide that took oil prices within sight of the $20-a-barrel threshold last month, sentiment in commodity markets seems to have turned, raising the question of whether oil prices have finally bottomed out.

Wood Mackenzie says up to 50% of US LNG is at risk of shut-in over the next five years
LNG Industry, March 9, 2016
Utilizing its proprietary global gas model, Wood Mackenzie has carried out sensitivity analysis determining the outlook for LNG exports from the US. Wood Mackenzie shows that factors other than the impact of Russian action to protect market share, such as US gas prices (which are expected to rise), oil prices and coal prices, may be more influential, and will determine European spot prices through switching from coal to gas in the power sector.

Senators pan Arctic agreement as Canadian leader visits U.S.
Alaska Public Radio News, Liz Ruskin, March 10, 2016
When a U.S. president and a Canadian prime minister meet, it’s not a given that the Arctic will be on the agenda.

Quote of the Week

“We’re committed”— Josselyn O’Connor, AKLNG Community Stakeholder Advisor