In a year where it seemed like bad news went to worse as far as Alaska’s oil revenues there was a glimmer of hope. This year PFD’s were cut in half though the rolling multi-year average dished out one of the highest ever- due to a lack of State revenues in other areas. And shortly after a very close passing of a tax credit referendum to oil companies as an incentive to drill, there was a strong drop in prices that bottomed out around the first of the year which made extraction of arctic crude improbable. The end of the year also found the outgoing President taking actions to restrict future drilling in the Arctic (offshore).
The good news however, is that the Trans-Alaska Pipeline System announced that the annual through put of oil pushed down the pipeline was an increased amount over last year. So while -in a simple sense- profits equal quantity (which increased as raw product) multiplied by price (which has been suppressed but slowly climbing), whether Alaska sees an increase in final revenues on its oil remains to be seen. But in the immediate more oil flow is a positive (financial) omen!