Posted on 11/19/2008 6:38:38 PM PST by mathwhizz
Falling oil prices will take a bite out of Alaska's state budget and put a damper on oil-field investment, Gov. Sarah Palin told a conference of major North Slope oil operators on Wednesday.
Palin, the Republican party's vice-presidential nominee for the recent U.S. presidential election, said the days of oil-revenue budget surpluses are over.
"It's a wakeup call. We preached, when oil was at $140, that we had to prepare for the day when prices would drop," Palin told reporters. "We realized it today."
Palin has until December 15 to present operating and capital budgets for fiscal 2010. She was not specific about any planned cuts but said it will be hard to add workers to agencies. "We don't want to grow that workforce if we can't afford to do so," she said.
(Excerpt) Read more at reuters.com ...
Did Reuters just figure this out?
The DBM sound giddy about this.
Meanwhile, where are all the doom and gloom stories about the stock market free fall, due in part, as a result of the election?
Palin can do it better than what’s presented at the nat’l level.
Gov. Palin will figure out yet again what will benefit Alaskans, it’s called leadership. The Lower 48 doesn’t have that yet, other than maybe LA is getting a glimmer...
Meanwhile, TX Gov. Perry is still figuring out ways to interrupt Gov. Palin and short-change her wherever possible so that he can be out in front of the cameras. The Year of the RINOs (let’s make it their LAST year).
It is almost a matter of slight curiosity...
...that one of the major revenue sources...
...of one of our most fiscally-sound states...
...governed by a wildly popular grassroots heroine...
...is now being subjected to massive declines in global oil prices.
Coincidence, of course.
Easy. Double output. Drill, baby, drill! Put that money in our pockets instead of OPECs!
Actually, the world economy has crashed and oil prices have fallen. With that decrease in oil prices will come a decrease in new E&P in Alaska and the lower 48.
That is not going to happen with $50.00 oil.
It can happen as long as
A) The cost of production and transportation of oil is under $50 a barrel, and
B) We still import a barrel of oil from somewhere else.
And she has better hair than Perry. That is the root of his jealousy.
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