Morning Headlamp — Sen. Murkowski Refuses to Accept Defeat on OCS Leases

Murkowski comes out swinging. According to Alaska Senator Lisa Murkowski, President Obama’s offshore lease plan “is something that I wish we could, the first day of a new administration, the president-elect could wave a wand and make this all better, if you will? It’s not that simple; and that’s why we worked so hard to make sure the (Obama) administration did not do what they did.” Hopeful the administration would take those pleas into account, Murkowski added she was particularly “ticked off” that “President Obama is telling the new administration to stand up to Russia, and then what does he do — he basically cedes leadership on Arctic energy production to the Russians. It is just incredible to think (the Russians) get the payroll; they get the jobs; they get the revenue and we’re just watching.” Headlamp continues to applaud Sen. Murkowski’s undying support for her state’s largest industry and America’s energy future.

The new House makeup worked well for Gov. Bill Walker’s fiscal agenda, but AKLNG remains a battleground issue. Anchorage Democrat Reps. Andy Josephson and Geran Tarr will co-chair the House Resources Committee, the first stop for any oil and gas tax bills on their way through the legislative process. The central issue, the new Resource chairs said in separate interviews, is that the state is no longer generating meaningful revenue from its production tax since oil prices have fallen and largely stabilized at sub-$50 per barrel prices. “It’s been proven now the low price environment is the new normal,” Tarr said. “There’s just no denying that when we created the current tax structure — the record is clear — we only looked at the $60 to $120 (per barrel) band. We did not create a system that works at these prices and I believe 100 percent we would not have the system we have today if we had done that.”

The majority of oil and gas contractors in a recent survey agreed the election of Donald J. Trump will have a “positive result” and create more jobs in the global energy sector, according to NES Global Talent. Of those surveyed worldwide, 48 percent said they “personally felt positive” about Trump’s election and 63 percent said it would have a positive effect on the energy industry.


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First Reads

Murkowski lays out path on Arctic leases
Alaska Journal of Commerce, Elwood Brehmer, November 22, 2016

New House Resource chairs ready to take on oil credits, AK LNG
Homer News, Elwood Brehmer, November 22, 2016

Drill, baby, drill? Election reignites offshore debate
Juneau Empire, Patrick Whittle, November 22, 2016

Survey: Oil and gas contractors optimistic after U.S. elections
Fuel Fix, Mike Smith, November 22, 2016