Morning Headlamp — Industry left out of White House summit

from the Alaska Arctic for a first-of-its-kind White House meeting to work on international cooperation for Arctic research. The group has agreed to examine their plans within a few key areas: Understanding what causes rapid Arctic climate change, and what the consequences are for the rest of the planet; bolstering needed Arctic data and advancing science, technology, engineering and mathematics education for Arctic residents. At the meeting, the Department of Energy announced plans to design support tools to create “microgrids” — ways to create power off the grid — in the Arctic.

While Headlamp always welcomes discourse surrounding Arctic development, we are curious why industry needs were not addressed at the conference. Arctic economic development should remain an important part of any discussion about the region.

Podium shuffle. At the Alaska Business Monthly top 49ers luncheon, some companies saw a drop in their rankings based on 2016’s performance. Bristol Bay Native Corporation has held onto the number two rank for years but saw a nearly 13 percent drop in gross income in 2015. Because of that, the company was ranked 3rd for 2016. “BBNC has taken a hit as have other companies,” says BBNC President and CEO Jason Metrokin. Arctic Slope Regional Corporation and NANA Regional Corporation took the first and second spots, respectively. Headlamp salutes the 23 Alliance members who made the list! 

Ahtna Inc. began drilling an exploratory well Thursday in an unusual effort to find natural gas that could lower energy bills for residents in the Copper River area. The 2-million-pound drilling rig was recently hauled from Kenai near Cook Inlet. Ahtna subsidiary, Tolsona Oil and Gas Exploration, plans to drill a single exploratory well about a mile deep on the 4-acre site. The drilling should take 26 days, Ahtna said. Headlamp notes that tax credits were critical to the project. 


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First Reads

Top grossing Alaska companies see drop in revenue after year of slumped oil prices
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Native corporation starts 1st well in effort to bring cheaper natural gas to villages
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