Connect with us

Alaska

Will Big Oil Jump At The Opportunity To Drill More In Alaska? | OilPrice.com

Published

on

Will Big Oil Jump At The Opportunity To Drill More In Alaska? | OilPrice.com


It looks like the Inflation Discount Act does nearly every little thing – every little thing, that’s, however curbing inflation. With the intention to move the Act the Biden administration needed to enchantment to a broad base of supporters, from staunch local weather advocates to hardcore coal nation representatives. Specifically, the Act needed to enchantment to holdout West Virginia Senator Joe Manchin. Although Manchin is a democrat he represents a constituency that is dependent upon fossil fuels for his or her livelihoods and prioritizes coal nation jobs over local weather measures. So whereas the Act consists of enormous incentives for clear applied sciences, it additionally promised a large oil and gasoline drilling public sale. Now, the time has come for the federal authorities to make good on that promise. This week, the Inside Division introduced the deliberate public sale of greater than 958,000 acres  – an space bigger than your entire state of Rhode Island – in Alaska’s Prepare dinner Inlet subsequent month. The sale features a stretch of federal waters beginning round Kalgin Island all the best way to Augustine Island within the south. Division estimates say that the realm being auctioned has the potential to provide almost 200 million barrels of crude and 300 billion cubic toes of pure gasoline over the lifetime of the lease gross sales. 

Set to be held on December 30, the lease sale is definitely the renewal of one in all a number of beforehand canceled auctions. In Could, the Biden administration canceled three main oil and gasoline auctions within the Prepare dinner Inlet (“as a result of lack of trade curiosity in leasing within the space”) and the Gulf of Mexico (as a result of “conflicting courtroom rulings”). Such leases have been the topic of great authorized battles, with some rulings forcing cancellations as a result of inadequate consideration of the auctions’ impression on local weather change, and different rulings ordering the resumption of such auctions.

Russian Upstream Oil And Fuel Funding Set To Plunge By $15 Billion

Advertisement

Whereas citing “lack of trade curiosity in leasing within the space” as a cause to cancel Prepare dinner Inlet auctions may be a handy simplification of a bigger context of political and geopolitical issues, there’s additionally a core fact to the federal authorities’s statements. A controversial sale of oil and gasoline leases within the Arctic Nationwide Wildlife Refuge below the Trump administration fell far wanting its income targets. 

After enormous publicity main as much as the extremely contested sale, the public sale was a dud. Not one main power firm made a bid. The federal government offered solely half of the tracts on provide – 11 tracts of twenty-two – and the overwhelming majority of the profitable bids have been submitted by a growth company owned by the state of Alaska. That company, The Alaska Industrial Growth and Export Authority, purchased their 400,000 acres on the minimal bid, and has by no means drilled a effectively in its historical past. In line with reporting from the Anchorage Day by day Information, the outcomes of the sale have been a “unhealthy begin” to succeed in anticipated revenues. “It had estimated the lease gross sales would herald $1.8 billion over a decade, to be cut up between the Alaska and federal governments,” the report said. “The cash raised [in the auction] fell far quick.”

The message appears to be that whereas oil and gasoline leases nonetheless maintain main political sway, they’ve misplaced their luster within the eyes of the non-public sector. An opinion piece written for the Houston Chronicle on the time of final 12 months’s “failed public sale,” argued that the surprising lack of curiosity from anybody aside from a state-owned financial growth company signaled that the oil itself was not wanted, however oil jobs are desperately missed. 

That will not be the case. The context couldn’t be extra totally different this time round. Final 12 months power demand was low and experiences of peak oil have been excessive within the wake of worldwide Covid-19 quarantines. This 12 months, we’re within the midst of a “world power disaster of unprecedented depth and complexity,” within the phrases of the Worldwide Power Company (IEA). The massive cutback of Russian oil and gasoline on the worldwide market has left an enormous vacuum and governments and shoppers alike are paying the value, whereas Huge Oil receives the windfall. 

Advertisement

Whereas there could also be some recent incentive for brand new oil and gasoline drilling, nevertheless, Huge Oil doesn’t assume that this fossil gasoline renaissance is right here to remain. In actual fact, OPEC is anticipating main decreases in demand within the coming 12 months(s) and has responded with main manufacturing cuts to buoy oil costs. Certainly, even now it appears unsure whether or not the Prepare dinner Inlet leases included within the December thirtieth public sale will ever truly end in drilling. Already, the announcement of the sale has drawn vocal scorn from environmental teams. One such group, the Heart for Organic Range, advised Bloomberg that drilling within the allotted waters would hurt quite a lot of species, together with the Prepare dinner Inlet beluga whale, one of the endangered whale populations on the earth. 

It’s up within the air the best way that the lease will play out, and the outcomes will probably be very telling about non-public sector attitudes over which means the winds are blowing for Huge Oil. 

By Haley Zaremba for Oilprice.com

Extra Prime Reads From Oilprice.com:

Advertisement





Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Alaska

Nearly 70 years ago, the world’s first satellite took flight. Three Alaska scientists were among the first North Americans to spot it.

Published

on

Nearly 70 years ago, the world’s first satellite took flight. Three Alaska scientists were among the first North Americans to spot it.


On any clear, dark night you can see them, gliding through the sky and reflecting sunlight from the other side of the world. Manmade satellites now orbit our planet by the thousands, and it’s hard to stargaze without seeing one.

The inky black upper atmosphere was less busy 68 years ago, when a few young scientists stepped out of a trailer near Fairbanks to look into the cold October sky. Gazing upward, they saw the moving dot that started it all, the Russian-launched Sputnik 1.

Those Alaskans, working for the Geophysical Institute at the University of Alaska Fairbanks, were the first North American scientists to see the satellite, which was the size and shape of a basketball and, at 180 pounds, weighed about as much as a point guard.

Advertisement

The Alaska researchers studied radio astronomy at the campus in Fairbanks. They had their own tracking station in a clearing in the forest on the northern portion of university land. This station, set up to study the aurora and other features of the upper atmosphere, enabled the scientists to be ready when a reporter called the institute with news of the Russians’ secret launch of the world’s first manmade satellite.

Within a half-hour of that call, an official with the Naval Research Laboratory in Washington, D.C., called Geophysical Institute Deputy Director C. Gordon Little with radio frequencies that Sputnik emitted.

“The scientists at the Institute poured out of their offices like stirred-up bees,” wrote a reporter for the Farthest North Collegian, the UAF campus newspaper.

Crowded into a trailer full of equipment about a mile north of their offices, the scientists received the radio beep-beep-beep from Sputnik and were able to calculate its orbit. They figured it would be visible in the northwestern sky at about 5 a.m. the next day.

On that morning, three of them stepped outside the trailer to see what Little described as “a bright star-like object moving in a slow, graceful curve across the sky like a very slow shooting star.”

Advertisement

For the record, scientists may not have been the first Alaskans to see Sputnik. In a 1977 article, the founder of this column, T. Neil Davis, described how his neighbor, Dexter Stegemeyer, said he had seen a strange moving star come up out of the west as he was sitting in his outhouse. Though Stegemeyer didn’t know what he saw until he spoke with Davis, his sighting was a bit earlier than the scientists’.

The New York Times’ Oct. 7, 1957 edition included a front-page headline of “SATELLITE SEEN IN ALASKA,” and Sputnik caused a big fuss all over the country. People wondered about the implications of the Soviet object looping over America every 98 minutes. Within a year, Congress voted to create NASA.

Fears about Sputnik evaporated as three months later the U.S. launched its own satellite, Explorer 1, and eventually took the lead in the race for space.

Almost 70 later, satellites are part of everyday life. The next time you see a satellite streaking through the night sky, remember the first scientist on this continent to see one was standing in Alaska. And the first non-scientist to see a satellite in North America was sitting in Alaska.





Source link

Advertisement
Continue Reading

Alaska

Western Alaska storm and southerly flow drives warmth back into the state

Published

on

Western Alaska storm and southerly flow drives warmth back into the state


ANCHORAGE, Alaska (KTUU) – Gusty winds and heavy snow has begun to spread into Western and Southwest Alaska, with a surge of warmer air. Temperatures in Southwest Alaska is already 10 to 35 degrees warmer than yesterday morning. This warmth will spread across the rest of the state through the weekend, with some of the most pronounced warmth along the Slope. We’ll see many areas this weekend into next week remaining well-above average.

SOUTHCENTRAL:

Temperatures are slowly warming across Southcentral, with many areas seeing cloud coverage increasing. While we could see some peeks of sunshine today, most locations will see mostly cloudy conditions. While we can’t rule out light flurries for inland locations, most of the precipitation today will occur near the coast. Snow looks to be the primary precipitation type, although later this evening a transition to rain or wintry mix will occur. This comes as temperatures quickly warm across Southcentral.

We’ll see highs today in the upper 20s and lower 30s for inland areas, while coastal regions warm into the 30s and 40s. The southerly flow aloft will remain with us for several days, pumping in the warmth and moisture. As a result, Kodiak could see over an inch of rain today, with gusty winds.

Advertisement

While most of the precipitation this weekend remains near the coast, inland areas will see the best chance for wintry mix Sunday into Monday. Little to no accumulation is expected.

The key takeaways for this weekend, is snow transitioning to rain, with some gusty winds likely for parts of Southcentral this weekend.

SOUTHEAST:

Another fairly quiet day is expected across Southeast today, outside of some light snow near Yakutat. We’ll see a mix of sun and clouds with temperatures remaining on the cooler side. Parts of the Northern Panhandle may stay in the upper 20s today. The stretch of quiet weather will stay with us through the first half of Saturday, followed by an increase in precipitation and winds. This upcoming system may bring some heavy snowfall to Southeast, so be prepared for that potential this weekend. Temperatures warm into next week, back into the upper 30s and lower 40s for many areas.

INTERIOR:

Advertisement

While temperatures this morning have bottomed out as low as -30 near Fort Yukon, temperatures will warm into the weekend. A wind advisory for the Alaska Range goes into effect at 9 Friday morning, where winds up to 60 mph will warm the Interior. Temperatures today for many locations will warm into the single digits, with some of the greatest warming arriving Saturday through next week. It’s likely we’ll spend most of next week with temperatures in the 20s and 30s, with the warmest locations near the Alaska Range. While we will largely stay dry, there is a chance for some light snow arriving Sunday night into Monday.

SLOPE/WESTERN ALASKA:

Temperatures will remain slightly above average for parts of the Slope today, with warming winds to build into the Slope this weekend. This comes as our area of low pressure in the Bering Sea continues to move farther north. Be prepared for gusty easterly winds along the Slope, leading to blowing snow and reduced visibility. We’ll see temperatures quickly warm well above average, with highs climbing into the 20s and 30s along the Slope into next week. While some snow is possible through the weekend, the heaviest activity will occur for the Brooks Range. We’ll see the potential for 4 to 12 inches of snowfall, with the highest amounts occurring along the southern slopes of the Brooks Range near Kobuk Valley. Winds could gusts as high as 45 mph, leading to greatly reduced visibility.

Heavy snow is impacting Western and Southwest Alaska this morning, with winds gusting up to 50 mph. Numerous winter weather alerts, as well as a coastal flood advisory is in effect. The heaviest snow will fall for the Seward Peninsula and east of Norton Sound, where up to a foot or more of snow is to be expected. The heaviest amounts will fall today, with the activity set to lighten up through Sunday. In addition to the snow, gusty winds will lead to areas of blowing snow. Visibility could be reduced down to less than half a mile at times. As southerly flow continues to pump in warmth, we’ll see a transition from snow to rain later today into Saturday for parts of Southwest Alaska.

ALEUTIANS:

Advertisement

Gusty winds and heavy rain will fall through the Aleutians today, where up to .75″ of rain is possible. As the area of low pressure moves north, we’ll see a new low form just south of the Eastern Aleutians. This will lead to additional rain and winds into the weekend. Winds could gusts upwards of 50 mph through the Eastern Aleutians and through the Alaska Peninsula. With ridging to our east, more rain and winds remain with us into early next week. There is the potential that the Pribilof Islands see a return to snow Sunday, as colder air moves into the Bering Sea.

OUTLOOK AHEAD:

Well above average warmth will stay with us as we close out January. While one more short-lived cold snap is possible, we may have to wait until February before we tap into warmer conditions. Temperatures through the close of January will keep average monthly temperatures 5 to 12 degrees above average for much of the state. The overall trend still favors a wetter pattern, although with warmer weather the southern parts of the state will favor more rain or a mixed bag of precipitation.

Have a wonderful and safe holiday weekend.

See a spelling or grammar error? Report it to web@ktuu.com

Advertisement



Source link

Continue Reading

Alaska

Alaska governor, ally of Trump, will keep flags at full-staff for Inauguration Day • Alaska Beacon

Published

on

Alaska governor, ally of Trump, will keep flags at full-staff for Inauguration Day • Alaska Beacon


Alaska will join several other Republican-led states by keeping flags at full-staff on Inauguration Day despite the national period of mourning following President Jimmy Carter’s death last month.

Gov. Mike Dunleavy announced his decision, which breaks prior precedent, in a statement on Thursday. It applies only to flags on state property. Flags on federal property are expected to remain at half-staff.

Flags on state property will be returned to half-staff after Inauguration Day for the remainder of the mourning period.

The governors of Indiana, Idaho, Iowa, Texas, Florida, Tennessee, Oklahoma, North Dakota, Nebraska, Montana and Alabama, among others, have announced similar moves. 

Advertisement

U.S. Speaker of the House Mike Johnson, a Republican from Louisiana, said on Tuesday that flags at the U.S. Capitol would remain at full-staff on Inauguration Day. 

Their actions follow a statement from President-elect Donald Trump, who said in a Jan. 3 social media post that Democrats would be “giddy” to have flags lowered during his inauguration, adding, “Nobody wants to see this, and no American can be happy about it. Let’s see how it plays out.”

Dunleavy is seen as a friend of the incoming president and has met with him multiple times over the past year. Dunleavy and 21 other Republican governors visited Trump last week in Florida at an event that Trump described as “a love fest.”

Since 1954, flags have been lowered to half-staff during a federally prescribed 30-day mourning period following presidential deaths. In 1973, the second inauguration of President Richard Nixon took place during the mourning period that followed the death of President Harry Truman. 

Then-Gov. Bill Egan made no exceptions for Alaska, contemporary news accounts show, and no exception was made for Nixon’s inauguration in Washington, D.C., either. 

Advertisement

A spokesperson for Dunleavy’s office said the new precedent is designed to be a balance between honoring the ongoing mourning period for former President Jimmy Carter and recognizing the importance of the peaceful transition of power during the presidential inauguration. 

“Temporarily raising the flags to full-staff for the inauguration underscores the significance of this democratic tradition, while returning them to half-staff afterward ensures continued respect for President Carter’s legacy,” the spokesperson said.

GET THE MORNING HEADLINES.

Advertisement



Source link

Advertisement
Continue Reading

Trending