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Old 12-07-2008, 03:04 PM
 
Location: Not far from Fairbanks, AK
17,195 posts, read 30,600,378 times
Reputation: 13190

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As most of us already know, the Alaska's economy depends on the price of oil. For the past few years, Alaska has made a lot of money, and this is reflected in the budget surplus. But when the price of oil (per barrel) drops below $80.00, then Alaska has to dip into its savings. Oil has dropped to under $40.00 per barrel lately, and if it continues this way the budget will go from black to red within two or three years. Luckily the governor and legislature decided to put money away instead of spending it.

This is a good article about how important oil is to Alaska:
newsminer.com • Oil prices drop to $35.61 as Alaska prepares to update revenue forecast
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Old 12-07-2008, 04:21 PM
 
4,986 posts, read 8,801,340 times
Reputation: 3271
Quote:
Originally Posted by RayinAK View Post
Luckily the governor and legislature decided to put money away instead of spending it.
Like the Billion or so they gave away this summer to buy votes, or the half billion they are giving away for a pipeline to nowhere?

But yes, this is an excellent article. Particularly the part:

Quote:
Recent published accounts tend to confirm that more intense competition among refineries in the Lower 48 than Alaska is a key to the gasoline gap. The intense competition is good for Lower 48 consumers, but not for companies in the refining business.

The Houston Chronicle reported:

Tesoro Corp., a refiner that has lost 83 percent of its market value this year, said Tuesday that CEO Bruce Smith was again forced to sell shares.
Kind of debunks all of the widely held conspiracy theories that refiners only exist for the purpose of price manipulation. In fact, the low oil prices we are now seeing directly contradicts a prevailing opinion in Alaska that BP, Conoco, and Exxon are somehow in direct control of oil prices and only in business for the sole purpose of screwing Alaskans (whille actually providing a service couldn't have anything to do with it).
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Old 12-08-2008, 03:25 PM
 
457 posts, read 912,237 times
Reputation: 207
How long Crude stays at 40 is the question. But boy what a Godsend to the villages for summer deliveries-- woohoo. I say we hit the 30's before this trend is over. About time Nome and the others get cheap refined products , good time to spend the summer in the bush.

December '09 back to 100 crude highly likely 150 possible....

And remember My Alaskan Friends 'turn off TV' the local "Programing" and think-- kids watching this shyte? XXXXXXXXXXXX

See ya in 2 years Dow 3000, 401k? TOAST --OUT .. , 35% Unemployed , You R.E. down another 40% and not coming back for 15 years-- live with that?? If its paid for and your happy their , BEST HOLD for sure.
figure out the rest...... The A BS evening news is just strokin you.

Whats the latest Slope news Sir Rancer?

(Im a Palin supporter.) Watch your topknot my Alakshak Friends.... MM
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Old 12-08-2008, 08:56 PM
 
Location: Not far from Fairbanks, AK
17,195 posts, read 30,600,378 times
Reputation: 13190
Quote:
Originally Posted by Moose Whisperer View Post
Like the Billion or so they gave away this summer to buy votes, or the half billion they are giving away for a pipeline to nowhere?

But yes, this is an excellent article. Particularly the part:



Kind of debunks all of the widely held conspiracy theories that refiners only exist for the purpose of price manipulation. In fact, the low oil prices we are now seeing directly contradicts a prevailing opinion in Alaska that BP, Conoco, and Exxon are somehow in direct control of oil prices and only in business for the sole purpose of screwing Alaskans (whille actually providing a service couldn't have anything to do with it).
The money "they gave away" was our money. Such moneys, in this case "Energy Rebate" was a good thing wherever fuels (heating, gasoline, etc.) were the most expensive at the time. My wife and I used ours to fill a 500-gallon heating fuel tank, and I am certain that a lot of families in the interior and in the bush also used their money on things they needed. The bottom line is that this rebate went right back into the AK economy.

The way I see it, if the legislature keeps the money they will waste it on pay raises, and on pork. For example, building "nature" trails, bicycle trails around Los Anchorage, parks, and such. But if the give me my portion, I put it to good use instead.
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Old 12-08-2008, 09:07 PM
 
Location: Boise burb
238 posts, read 788,860 times
Reputation: 87
Quote:
Originally Posted by RayinAK View Post
The way I see it, if the legislature keeps the money they will waste it on pay raises, and on pork. For example, building "nature" trails, bicycle trails around Los Anchorage, parks, and such. But if the give me my portion, I put it to good use instead.

Sounds like Idaho politics only better... I can't wait to move up there... you folks have it right.
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Old 12-08-2008, 09:07 PM
 
Location: Naptowne, Alaska
15,599 posts, read 36,255,008 times
Reputation: 14748
Amazingly enough...I still have a job despite the low oil prices.
I live a pretty simple life as it is...I drink only the cheapest beer, have the cheapest dishnet package, buy my birdseed in bulk at Freddies, eat my own grown veggies and fish, and cross country ski instead of burning a bunch of fuel in my snowmachine, etc.
If I get laid off tomorrow...I think I have enough cash stashed to get through winter...and would take a job at the local McDonalds if I had to. The only thing that worries me is, if I did get laid off, having enough left over to make an occasional trip to Sweden to visit the ex girlfriend!
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Old 12-08-2008, 09:15 PM
 
Location: Not far from Fairbanks, AK
17,195 posts, read 30,600,378 times
Reputation: 13190
Quote:
Originally Posted by Rance View Post
Amazingly enough...I still have a job despite the low oil prices.
I live a pretty simple life as it is...I drink only the cheapest beer, have the cheapest dishnet package, buy my birdseed in bulk at Freddies, eat my own grown veggies and fish, and cross country ski instead of burning a bunch of fuel in my snowmachine, etc.
If I get laid off tomorrow...I think I have enough cash stashed to get through winter...and would take a job at the local McDonalds if I had to. The only thing that worries me is, if I did get laid off, having enough left over to make an occasional trip to Sweden to visit the ex girlfriend!
Lucky you The ex still lets you visit
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Old 12-08-2008, 10:00 PM
 
Location: Naptowne, Alaska
15,599 posts, read 36,255,008 times
Reputation: 14748
Well...she's my wife now...which makes her my ex-girlfriend!



Gas prices are plummeting (well in most places). It looks as though it could fall below $0.00 per gallon by March of next year! What does this mean for life in the US you ask? Well...

New gas powered home appliances will be unveiled including toothbrushes, doorbells, hammers.
The state would introduce a G-Waste program to help you dispose of all that old gas lying around your garage.
The Federal government would impose a "Fun Tax" on gas in an attempt to keep rowdy teens from filling public fountains and lighting them on fire.
In order to one-up the opening of the Bejing Summer Games, London would fill and ignite the Thames so the whole world could experience the awesome power of The Olympic Flamegasm.
Al Gore's head explodes.
Zombie Saddam put back in power to help raise crude oil prices.
Fire-eaters spiral into fire-bingers.
A career in the arsonic arts is not as much a dent in the ole' pocketbook.
Everyone's a huffer!
Premium gasoline will still hover around the 2.9 - 4.9 cents per gallon price range, enraging BMW and Citroen owners.
Convenience stores will make up for the loss of income by raising the price of Super Big Gulps to $4.59.
Firework construction will shift to liquid propellants.
Most energy drinks will include at least a little gasoline.
People will drive huge, luxurious vehicles able to seat 5 or more adults, even when they are just travelling alone.

Last edited by Rance; 12-08-2008 at 11:27 PM..
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Old 12-08-2008, 10:11 PM
 
Location: Bethel, Alaska
21,365 posts, read 34,070,451 times
Reputation: 13849
NPR finally added Alaska in their daily high gas prices. Anchorage turned up highest gas prices in the country this morning.
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Old 12-08-2008, 11:17 PM
 
Location: Palmer
2,519 posts, read 6,244,925 times
Reputation: 1378
Good one Rance...
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