This Week in Alaska Business History January 28, 2001

PHOTO/Courtesy MIAC Inc.

Editor’s note: "This Week in Alaska Business History" revisits events that shaped our past.

"Those who cannot

remember the past are

condemned to repeat it."

-- George Santayana, 1863-1952

20 years ago this week

Anchorage Times

Jan. 28, 1981

Prudhoe revenue estimated to be more than $1 trillion

By John Knowlton

Times Writer

The oil and gas that will flow from Prudhoe Bay in its 36-year life span will cause a whopping $1.1 trillion to flow into the coffers of Alaska, say the federal government and the oil companies that own and produce the hydrocarbons.

Nearly one-third of that mind-boggling sum, $327 billion, will go into Alaska’s treasury in the form of oil industry income taxes, severance taxes and royalties. By way of comparison, that would be about $817,500 per man, woman and child in Alaska if the state were to pass the money directly to residents.

The $327 billion figure also is enough to operate state government for more than 100 years at the level proposed for next fiscal year by Gov. Jay Hammond.

Anchorage Times

Jan. 29, 1981

Greater role urged in marketing state seafood

The Associated Press

JUNEAU -- Alaska’s fish harvest has more than doubled over the past six years, but marketing efforts have not kept pace with the increased production, lawmakers were told Wednesday.

Marketing problems are the single biggest handicap facing the state’s fishing industry, Rodger Painter, executive director of the United Fishermen of Alaska, told the Senate Resources Committee during a briefing on fisheries.

State investment in fish marketing is a wise investment, Painter said, because fish will be around until long after the state’s oil wealth is depleted. The seafood industry is now the state’s largest private employer, added Painter, who heads the state’s biggest fisherman’s organization.

... Pointer strongly urged long-term legislative financing of the Alaska Marketing Institute, which is now working under a $1.2 million loan from the Alaska Renewable Resources Corp. to develop markets.

10 years ago this week

Alaska Journal of Commerce

Jan. 28, 1991

Oil giants list plans for 1991

By the Alaska Journal of Commerce

BP Explorations (Alaska) Inc. has earmarked a capital budget of slightly more than $575 million for 1991, for plans including a much-accelerated well-fracturing program, a top BP official says.

Most of the budget increase, up about $150 million from 1990, is due to preliminary work on GHX-2 and to add a fourth drilling rig at Prudhoe and a second at Kuparuk, said Julian R. Darley, president of BP Exploration (Alaska) Inc.

"It’s difficult to be precise at this point of the year, but it appears we’ll be spending between $250 million and $300 million of our capital budget in Alaska, with drilling being the biggest single component," Darley said Jan. 19 in a speech before the "Meet Alaska" conference sponsored by Alaska Support Industry Alliance.

Alaska Journal of Commerce

Jan. 28, 1991

Dock gets closer look

By the Alaska Journal of Commerce

A multipurpose dock planned for the end of Ship Creek Point will get more scrutiny from Anchorage officials after a study that seriously questions the economic feasibility of the dock.

"Based on cost estimates and additional engineering that had to be done, we have found there is a significant increase in that part of the project," said Ed McMillan, head of the city’s department of public works.

"If we can go ahead, we are going to have to appropriate additional money, and from what the report has told us, I seriously doubt we are going ahead with that portion of the project."

Three years ago, city residents approved a $7.5 million bond issue to help finance the project.

-- Compiled by Ed Bennett.


11/06/2016 - 9:34am