Alaska Business Insider

Alaska’s economy never stands still. One minute the oil industry is booming while tourism companies are tottering, and the next the construction industry is laying down its hammers while fishermen are enjoying strong catches.

In this blog we’ll track those highs and lows, resource development disputes, new ventures and many other topics. We’ll rely on our own reporting as well as bring you relevant news from other media or any other source that has information of interest to people following Alaska industries, from mining to retail to real estate.

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Missed deadlines on North Slope gas line - 2/24/2011 4:42 pm

Pat Galvin's new job - 2/24/2011 4:24 pm

Sport groups pressure EPA on Pebble - 2/24/2011 3:27 pm

Study highlights Arctic drilling's economic impact - 2/24/2011 1:46 pm

Muni changing wireless, Internet providers - 2/23/2011 9:06 pm

Study highlights Arctic drilling's economic impact

From Elizabeth Bluemink –

A Shell-commissioned study published Thursday said that developing new oil and gas fields in the Beaufort and Chukchi seas could generate nearly 10 billion barrels of oil and 15 trillion cubic feet of natural gas over the next 50 years, generating $193 billion in federal, state and local government revenue.

The study estimated that Arctic offshore oil could reduce foreign oil exports by about 9 percent for 30 years.

The bulk of the revenue would go to the federal government, which owns the federal waters where Shell and other oil companies hope to drill in the future.

Here’s the breakdown:

• $167 billion for the federal government
• $15 billion for Alaska
• $4 billion for local government
• $7 billion in other government income

The revenue estimates are based on oil prices remaining at $65 per barrel and natural gas at $6.40 for the next 20 years.

The study was published by Northern Economics, an Anchorage consulting firm, and the University of Alaska Anchorage’s Institute of Social and Economic Research.

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