Alaska Makes Energy Center Stage: Government Seeks Strength through Energy Initiatives

The state legislative session in Alaska this week is going to be very heavily energy dominated. While two state senators wage a battle for improved energy initiatives in the region, the Alaskan governor wants to make doing business in the state more palatable.

Senators Lesil McGuire and Bill Wielechowski are asking for $294 million to spend on energy initiatives in the state, according to a report from the Associated Press.

They are pushing an energy bill to upgrade rural power systems and support emerging technologies, among other initiatives. The plan intends to maintain reliable and affordable energy for the state for the next 50 years.

Additionally, Governor Sean Parnell is proposing increased incentives for oil and gas companies to conduct business in Alaska, a state that has already seen its fair share of oil and gas projects.

Energy Projects Are Nothing New to Alaska

Alaska currently boasts massive oil production, as well as ongoing development projects. One of the biggest ongoing projects, Exxon Mobil (XOM) is currently drilling at Point Thomson on Alaska’s North Slope.

In addition to a massive reserve of oil, Alaska boasts massive natural gas reserves, as well. Just today, the President of Exxon Mobil Production Company Rich Kruger stressed that Alaska is poised to become a major supplier of natural gas to North America at the 2010 Meet Alaska Conference in Anchorage.

Furthermore, the state has giant pipeline projects in the works, including the Denali Pipeline and the Alaska Pipeline projects that are currently in the planning stages.

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