With Gov. Mike Dunleavy in absentia, a divided Legislature is left grappling with Alaska finances when there is no fiscal plan, no hope of a fiscal plan and no leadership.
It would not be complicated to fix this. It would take a modicum of political courage, however.
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The Alaska Industrial Development and Export Authority has repeatedly boasted that its earnings last year—$65 million—were strong enough that it contributed $20 million to the state general fund.
It was that boasting, in part, that led the State Senate to decide that AIDEA should contribute $32.5 million to the general fund, an increase of $12.5 million from the amount approved by the board.
But AIDEA’s cash income should be tapped to do more to fight the Dunleavy deficit.
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When the Senate Resources Committee advanced a bill to close the Hilcorp loophole, Anchorage Sen. Matt Claman said he had “no recommendation” on the bill, which is tantamount to saying he wants the loophole to remain.
Claman’s opposition could be crucial in blocking the bill. I have asked him to explain, but he has not responded so far. Alaska news organizations have yet to examine his opposition.
Closing the Hilcorp loophole, an idea that is understandably unpopular with billionaire Hilcorp Owner Jeff Hildebrand of Texas and his employees, would be a small step toward a sensible Alaska fiscal plan.
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“This week, we learned that the federal government has revoked visas for four individuals affiliated with UAA — one current student and three recent graduates in post-graduation training — without prior notice. No students at UAF or UAS have been affected to date. Our staff are monitoring immigration records daily and are working to support impacted individuals,” UA President Pat Pitney said Monday in a letter to university staff and students.
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When the Senate Resources Committee advanced a bill to close the Hilcorp loophole, Anchorage Sen. Matt Claman said he had “no recommendation” on the bill, which is tantamount to saying he wants the loophole to remain.
Claman’s opposition could be crucial in blocking the bill. I have asked him to explain, but he has not responded so far. Alaska news organizations have yet to examine his opposition.
Closing the Hilcorp loophole, an idea that is understandably unpopular with billionaire Hilcorp Owner Jeff Hildebrand of Texas and his employees, would be a small step toward a sensible Alaska fiscal plan.
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The Golden Age of Alaska has suddenly collided with falling oil prices, the federal cavalcade of clowns, enormous investment risks from Trump’s global trade war and the lack of a fiscal plan.
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Sen. Dan Sullivan has long supported cuts to Medicaid in Alaska, though he hides behind the claim that he wants to help the “most vulnerable” recipients, which is the way to preserve the program for future generations.
Translated, this means he support cuts for Medicaid recipients who are vulnerable, but not “most vulnerable,” a term that remains undefined by design.
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The Dunleavy administration signed a $3 million marketing contract with Six-7 Strategies, owned by longtime political operative Kevin Sweeney.
The contract called for getting a website up and running by March 15 at the latest promoting the advantages of Alaska to the world.
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Rep. Nick Begich the Third voted for the so-called “SAVE” act that will disenfranchise thousands of Alaskans from voting by requiring documents that many of them don’t have.
Begich the Third and all Republicans, along with four Democrats, voted to require that people show proof of citizenship when registering to vote. It is a voter suppression plan.
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There was scant attention paid to President Trump’s tariff chaos Wednesday at a two-hour hearing on the Alaska LNG project, though the leaders of two state corporations both claimed that Trump’s support for the gas line helps the project.
Trump’s erratic behavior is the biggest threat to the latest gas pipeline dream, though Alaska’s leaders won’t say so out loud. They also refuse to say that Trump is trying to blackmail Asian leaders into supporting what Sen. Dan Sullivan is calling “America’s Gasline.”
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The federal Department of Homeland Security canceled a $46 million, 10-year grant to the University of Alaska Anchorage Tuesday.
On Wednesday, the Department of Homeland Security notified UAA in all caps that the termination was PAUSED.
Read MoreThe Alaska Industrial Development and Export Authority takes an expansive view of how it can spend state money.
The authority will seek to defend its $50 million gas pipeline backstop deal before the Legislative Budget & Audit Committee today at 5:30 p.m.
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Gov. Mike Dunleavy went on Fox Business last week and said the master plan is to have the 42-inch gas pipeline in place and operating in two-and-a-half years, which would be October 2027.
The Alaska Gasline Development Corporation is making a presentation to the Legislative Budget & Audit Committee today that says the first gas would be flowing to Southcentral in 2031.
Either Dunleavy or AGDC is lying
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The Dunleavy administration believes that Trump’s trade war bullying will get South Korea and other Asian nations to sign long-term binding contracts for many billions to underpin construction of an Alaska LNG pipeline, regardless of the cost.
“I’m telling you these countries are calling us up, kissing my ass,” Trump said at a Republican Congressional Dinner Tuesday night, referring to the calls he is getting about his trade war. “They are, they are dying to make a deal. Please, please sir make a deal. I’ll do anything. I’ll do anything sir.”
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UPDATED: The Alaska Permanent Fund has shed $3.2 billion of market value so far during the Trump Liberation Day stock market crash, dropping from $81.7 billion to $78.5. billion.
This does not count the numerous other state accounts, including the pension systems, that have tens of billions more invested in stocks. They do not post daily market values, the way the Permanent Fund does
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Gov. Mike Dunleavy refused to answer a question from Fox Business Thursday about whether he was “very much in favor” or if he had “some qualms” about the Trump trade war. The slide next to him said the S&P 500 was down 4.37 percent at that moment, while the Dow was down 3.69 percent. Oil prices were collapsing.
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I am waiting to hear the arguments about how the Trump trade war, which has the backing of Alaska Republicans not named Sen. Lisa Murkowski, will be great for Alaska.
That it will be great for the export of Alaska fish and that Trump’s attempt to blackmail countries in Asia is just what is needed to get the Alaska gas pipeline built.
This, after all, is the Golden Age of Alaska, brought to us by the great and powerful Trump, according to Gov. Mike Dunleavy, Sen. Dan Sullivan and Rep. Nick Begich 3.
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The Senate bill to close the glaring loophole that enriches billionaire Jeff Hildebrand to the tune of $100 million a year or more moved out of the Senate Resources Committee Wednesday.
The Legislature should have closed the Hilcorp loophole in 2019 when he bought out BP. Since then many hundreds of millions that could have gone to state services, including the Permanent Fund Dividend, went to Hildebrand’s pockets in Texas.
The oil industry propaganda, which is thoughtlessly copied and repeated year after year, never mentions this high-stakes cash flow Outside.
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Tuesday was the perfect day for Randy Ruaro to release the “robust, independent analysis” of the Alaska Industrial Development and Export Authority that was completed more than a year ago and kept secret.
Not because it was April Fools’ Day, but because the Alaska House and Senate held a joint meeting of their state affairs committees.
Legislators should have demanded to see what they received for the $250,000 contract.
Ruaro addressed the topic “What is AIDEA and how does it benefit Alaskans?”
There is no better document to answer that question about benefits than the study prepared for AIDEA and completed more than a year ago by Northern Economics of Anchorage for $250,000.
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The habit of promoters to inflate themselves to the point of bursting with grandiose claims is worrisome, given the half-century history of exploding gas line bubbles.
Glenfarne CEO Brendan Duval said his company operates plants in Louisiana and Texas that have not been built yet.
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