Oil giant reports 2018 profit, compared to big 2017 loss, and successful Alaska development
KTUU, Leroy Polk, July 26, 2018
An oil giant and major player in the Alaska energy sector reported Thursday that their 2018 second quarter portfolio made over a billion dollars in profit. This serves as a stark contrast to their multi-billion-dollar loss at this same time last year, and Alaska has something to do with it.
Our Take: Great news for ConocoPhillips and great news for Alaska. More jobs for Alaskans, more oil for the pipeline, more revenue for the state.
America’s Most and Least Popular Governors
Morning Consult, Cameron Easley, July 25, 2018
Governor’s Bill Walker (I-Alaska) and Bruce Rauners (R-Illinois) remain the most unpopular governors running for re-election this year. Sixty percent of Illinoisans disapprove of Rauner and 54 percent of Alaskans disapprove of Walker.
Our Take: This news comes on the heels of fundraising reports that show Governor Walker in the lead. The old adage appears to be true – money can’t buy you love.
Gas line officials stand firm: Mat-Su port ‘not feasible’ for LNG terminal
Anchorage Daily News, Larry Persily, July 26, 2018
Several months of additional review did not change the opinion of the state’s North Slope natural gas project development team that Nikiski is a better site than the Matanuska-Susitna Borough-promoted Port MacKenzie for a multibillion-dollar gas liquefaction plant and marine terminal. The Federal Energy Regulatory Commission had instructed the state team to conduct a more thorough analysis of the borough site on Knik Arm as an alternative to the project’s preferred choice of Nikiski, on the east side of Cook Inlet about 65 air miles southwest of Port MacKenzie.
Our Take: A suggestion for the Mat-Su Borough: “Never gonna give you up” isn’t really your song – but “Let it go” should be.
Funding for a long-awaited US heavy icebreaker is target of House GOP cuts
Arctic Today, Melody Schreiber, July 26, 2018
On Wednesday, the U.S. House of Representatives’ Appropriations committee approved its Homeland Security Appropriations Bill for fiscal year 2019 — and funding for a new heavy polar icebreaker is notably absent from the bill, critics say. Several Democratic representatives outlined their objections to the cut in a letter to the committee leaders earlier this week, arguing that it will “place our nation at a distinct economic, geopolitical, and national security disadvantage for years to come.” A floor vote on the appropriations bill isn’t yet scheduled, with members departing for August recess.
Our Take: A big step backward. AKHEADLAMP agrees with Senator Murkowski’s response: “In our Homeland Security FY19 Appropriations bill here in the Senate, we included funding to fully build our first polar strength icebreaker in almost fifty years. It is exceedingly unfortunate that the House does not recognize the sense of urgency, as we deal with Arctic priorities.”
Kansas GOP Sen. Moran’s message to Trump: Resolve EU and NAFTA trade conflicts to focus on China
CNBC, Jacob Pramuk, July 26, 2018
- Kansas Republican Sen. Jerry Moran urges President Donald Trump to abandon trade conflicts with key allies such as Canada, Mexico and the European Union and instead focus his efforts on alleged Chinese trade abuses.
- Moran is among Republican senators from states hit by the president’s trade policy that have criticized Trump’s tariff actions.
- Moran will lead a hearing Thursday at which U.S. Trade Representative Robert Lighthizer will testify.
From today’s Washington Examiner’s, Daily on Energy:
TRUMP STRIKES DEAL WITH EUROPE TO BUY MORE US ENERGY: Trump hashed out a trade deal on Wednesday that will lead to Europe buying more liquefied natural gas from the U.S. to diversify its energy supplies.
Strengthening: Trump said the new steps taken to reduce trade barriers on both sides of the Atlantic will also be “strengthening” the U.S.-European strategic relationship on energy. “The European Union wants to import more liquefied natural gas, LNG, from the United States and they are going to be a big buyer,” he said after meeting with European Commission President Jean-Claude Juncker. The president added that the U.S. will help ease the process for shipping more LNG to the European Union under the new trade deal, but he did not give any details.
Russia: Trump wants the EU not to become dependent on Russian supplies of natural gas, specifically through the construction of the Nord Stream 2 pipeline through Germany. Trump called Germany a “captive” to Russia last week while in Brussels.
Europe will buy more LNG: Juncker said his intention was to “make a deal today,” and that is what happened. He said the European Union will import more natural gas from the U.S. as the number of LNG export terminals increases. “This is also a message for others,” he said.
Reality check: But experts said that European companies would still be responsive to market forces, since Russian gas supplied by pipeline is the cheapest option.