Alaska is having a mighty tough year, ya’ll. The state’s economy has taken a series of gut punches that has landed The Last Frontier dead last in CNBC’s America’s Top States for Business rankings. Alaska relies heavily on its vast natural resources. More than one-third of the state’s revenues are derived from oil and gas production, but those have declined by 36% since 2019 with production falling last year to its lowest level in more than 40 years. Reese Energy Consulting today is studying the latest news from Alaska, still reeling from the new Administration’s cease and desist of federal oil leases there. Then there’s the state’s proposed $38.7 billion Alaska LNG project, which includes construction of an 800-mile, 3.5 BCFD pipeline to flow natural gas from the North Slope to a new LNG export facility. Following six years of government scrutiny, the Department of Energy now has ordered a supplemental environmental review to measure the project’s methane emissions, although the project’s stakeholders say they’re still on track to break Tundra.
What do you think? Learn more about REC and our natural gas and LNG services at www.ReeseEnergyConsulting.com.