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Alaska oil and gas industry jobless claims up for seventh straight month

The sun sets behind an oil drilling rig in Prudhoe Bay, Alaska on March 17, 2011. REUTERS/Lucas Jackson

Jobless benefits claims are down in Alaska and across the country, but the same cannot be said for the state’s oil and gas sector. The lack of available work has boosted the number of former workers in the extraction and support industries who have filed for unemployment, according to the state labor department. Year-on-year increases in existing unemployment insurance claims ...

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Company on verge of new Cook Inlet oil urges restraint on Alaska tax-credit changes

A small company developing Cook Inlet’s first new oil pool in years — and possibly a large gas field — underscores the challenges policymakers face as they look to alter the state’s controversial oil-tax credit scheme. Move too aggressively to cancel credits and companies advancing toward new production could suffer, hurting future state income from royalties and taxes. At the ...

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Conflict lurks over property taxes for proposed Alaska gas line

JUNEAU — The North Slope Borough has become fabulously wealthy from taxes on the oil industry and its massive Prudhoe Bay infrastructure. In addition to subsidies of thousands of dollars per resident for the costs of water, sewer, lights and heat, the nation’s northernmost municipality even has its own permanent fund. At about half a billion dollars, the borough’s permanent ...

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Caelus hopes to extract millions of barrels of oil through North Slope fracking

State officials hope North Slope newcomer Caelus Energy Alaska can crack the code on a tricky oil prospect along the Arctic Ocean and lay the groundwork for similar opportunities scattered across the region. Success at the Nuna field west of Prudhoe Bay, where Caelus will employ fracking techniques developed in the Lower 48 shale boom, could have widespread benefits if ...

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Conoco moves ahead on North Slope even as layoffs proceed

ConocoPhillips Alaska on Monday said it will move ahead with a development expected to add up to 8,000 barrels of crude to the trans-Alaska pipeline each day, crediting Alaska tax reform, despite low oil prices that have delayed projects around the world. But the announcement comes amid rumblings of layoffs on the North Slope, including at the field where the ...

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