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Old 01-05-2016, 12:57 PM
 
Location: Interior Alaska
2,383 posts, read 3,100,771 times
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Here we go!

S&P drops Alaska's credit rating, and warns of further downgrades | Alaska Dispatch News
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Old 01-05-2016, 02:44 PM
 
7,654 posts, read 5,110,679 times
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Since steel is energy intensive I would think they would bennifit from low energy costs. But we don't have steel in Alaska.


Quote:
Originally Posted by riceme View Post
Right behind the mass layoffs in O&G, the guys working in the steel industry will follow shortly, as our steel is supported primarily (almost singularly) by O&G. At the same time all the suppliers who cater to O&G will go, then **** starts to go downhill very quickly.
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Old 01-05-2016, 03:54 PM
 
Location: Interior Alaska
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Quote:
Originally Posted by pittsflyer View Post
Since steel is energy intensive I would think they would bennifit from low energy costs. But we don't have steel in Alaska.
There is a lot of steel business in Alaska related to O&G and to a lesser degree, mining. It is all 2nd and 3rd tier, no mills, obviously, but they employ a lot of people. Historically steel follows o&g.
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Old 01-05-2016, 07:27 PM
 
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A lot of businesses are reliant on O&G. This could ripple through all industries and businesses in the state.
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Old 01-06-2016, 12:38 AM
 
Location: Interior Alaska
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And this to cap us off for the night:

More Alaska budget fallout: state hiring freeze and a credit downgrade | Alaska News | newsminer.com
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Old 01-06-2016, 02:32 AM
 
Location: Anchorage
1,004 posts, read 1,188,003 times
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what..........
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Old 01-06-2016, 02:51 AM
 
Location: Interior Alaska
2,383 posts, read 3,100,771 times
Reputation: 2379
What what
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Old 01-06-2016, 12:58 PM
 
7,654 posts, read 5,110,679 times
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I had no idea. I figured if there was no significant foundry then there was no steel. The foundrys require huge amounts of energy. I have always said that we should have a huge refined metals industry up here because we have so much energy. Its easier to transport refined metal than ore and natural gas.


Quote:
Originally Posted by riceme View Post
There is a lot of steel business in Alaska related to O&G and to a lesser degree, mining. It is all 2nd and 3rd tier, no mills, obviously, but they employ a lot of people. Historically steel follows o&g.
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Old 01-06-2016, 01:12 PM
 
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Yea but its a good opportunity for a healthy market correction to cull dead wood and send people on their way down the alcan who were doing simple jobs getting paid big bucks (we all know them). This culling also serves to correct the housing market as well. To many families forced out of the market by people that should not have had the incomes and influence that they did (ie big money jobs with low barriers to entry). Then fleeced by land lords on rental rates because there are few options.


The market up here has been unhealthy for decades and so long as oil does not got to 10$ a barrel this could be healthy, kind of like a forest fire clearing out a bunch of low brush and dead wood. The fire sucks but then you have a nice healthy forest.


Quote:
Originally Posted by Dakster View Post
A lot of businesses are reliant on O&G. This could ripple through all industries and businesses in the state.
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Old 01-06-2016, 03:06 PM
 
Location: Anchorage
1,004 posts, read 1,188,003 times
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Quote:
Originally Posted by riceme View Post
What what
There was a spam post that is now deleted that made no sense.
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