Alaska

Standard & Poor’s downgraded Alaska Tuesday, to AA-plus from AAA, citing persistent low oil prices that have reduced the state government’s revenues.

Alaska Gov. Bill Walker’s proposed budget would retool the state’s oil and gas tax credit system, cut hundreds of millions of spending, and impose an income tax.

Alaska has signed and made public agreements with two major gas companies that will allow a major pipeline project to move forward even if the private firms decide to drop out of it.

Alaska Gov. Bill Walker announced late last week that Alaska has acquired land it needed for a major pipeline project and signed an agreement with British Columbia that could also strengthen the state's economy.

Alaska Gov. Bill Walker has announced two new appointments to the Alaska Gasline Development Corporation Board of Directors, the group responsible for overseeing the agency's efforts to build a natural gas pipeline the governor says is critical to Alaska's financial future.

Some Alaska officials, facing persistent low oil prices that could threaten the state’s triple-A rating, say it needs to change the way it does business, which may include new taxes and changes to the way it handles its large financial reserves.

The Alaska legislature has passed legislation appropriating almost $150 million for a gas pipeline project that Alaska Gov. Bill Walker has said will be key to closing the state's $3.5 billion budget deficit gap.

Alaska Gov. Bill Walker announced Monday that he has accepted financial support from the Federal Emergency Management Agency's Public Assistance Program to address damage caused by an August storm in the North Slope Borough.

Alaska Gov. Bill Walker said he will not introduce a bill to impose a property tax on natural gas leases in major reserve areas after receiving written assurances from two industry giants that they will make available their share of Alaska’s North Slope gas to a future gas pipeline project.

Alaska Gov. Bill Walker Announced this week that he is allowing the Alaska Industrial Development and Export Authority to spend up to $3.6 million, which had already been appropriated, to continue early work on a proposed bond-financed road project.