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Alaska faces $3.5 billion deficit amid lower oil prices

...reduce the amount of tax they pay.In a news release, acting Revenue Commissioner Marcia Davis said while despite lower oil prices and less revenue in the short term, "our long-term view is optimistic.""Greater investment by the oil and...
Lawmakers fast-track bill to avoid paying Anchorage bonds

...the state to agree to pay for any more projects because Alaska is facing a $3.5 billion deficit amid dramatically lower oil prices.For this current budget year, the state is on the hook to spend $126.6 million reimbursing municipalities for...
Oil on wild ride; how will it end?

...perhaps be short-lived.Others say oil production is still rising and demand isn't yet catching up - a recipe for lower oil prices.The oil bears argue that there are plenty of rigs still working, and they are now focused only on the most prolific...
Shauna Thornton: Overcoming challenges will require innovation

...thing as giving up; I believe it is just another opportunity to find a different solution.During the predicted lower oil prices, we are going to have to take cost-cutting approaches, and this will take innovation to preserve programs relevant...
Gov: Unsustainable for tax breaks to exceed oil tax revenue

...billion for the state in 2014. Those taxes are estimated to total $524 million this fiscal year because of much lower oil prices and about $308 million in 2016. With credits factored in for next year, Walker said the situation is expected to...
Judge invalidates part of school funding mechanism

...contributions.Gov.-elect Bill Walker takes office next Monday, and is already facing a $3 billion shortfall because of lower oil prices. He campaigned on a promise to cut the budget across-the-board by 16 percent.An education department spokeswoman...
Walker faced with widening deficit scenario

...oil and gas consultant Brad Keithley and University of Alaska Anchorage economist Scott Goldsmith predicts that at lower oil prices the current year budget deficit could double to $3 billion if oil prices were to average $80 per barrel for the...
What others say: Oil price drop not without benefits

As unlikely as it seems, there are a few benefits to Alaska residents that come with lower oil prices. The slump, in which prices have dropped to levels between $60 and $80 per barrel in recent months, has left the state budget...
What others say: Energy policy impacts global relations

...remain relatively low or not rise to levels projected in the past."We're already seeing the downside of recent lower oil prices in Oklahoma. Many of the publicly traded Oklahoma oil and gas producers saw their share prices drop in the third...
State releases revenue forecast

...1 billion in fiscal year 2013 and $1.7 billion in fiscal year 2015.Revenue Commissioner Angela Rodell said lower oil prices are expected to continue having the largest impact on the state's revenue picture. The forecast is based on an...


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