Pikka oil project will provide no state production tax revenue until 2034

Anyone looking for a small example of why Alaska’s oil tax system needs repair can find it in the latest state analysis of the Pikka oil project, set to begin producing up to 80,000 barrels of oil a day in 2026. It won’t begin producing state production tax revenue until 2034.

The Anchorage Daily News had this detailed account about how Pikka is expected to generate about $200 million a year for the state, mainly from royalty oil.

Read More
Dermot Cole Comments
Trump confuses Alaska oil with LNG, repeats claims of imaginary joint venture with Korea, Japan

The leader of South Korea, who said in June he would crawl between President Trump’s legs if he had to, took first place in the flattery competition Monday, praising Trump as one of the all-time greats. After taking it all in, Trump rambled and ranted at length, mixing lies about renewable energy and forgetting that a proposed Alaska project would export natural gas, not oil.

Read More
Dermot Cole Comments
Trump's Iron Dome to Golden Dome—flimsy origins of a boondoggle

I want to deal here not with the enormous technical, political and ethical questions, but with the simplest element of this story, something that everyone can understand—the flimsy origins of the name Golden Dome.

The choice does not reveal solid planning or thought, but an intellectual void that emerged from a trademark violation and somehow manages to massage Trump’s gold obsession.

Read More
Dermot Cole Comments