This week (July 19, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week we discuss the Top 3 fiscal issues in the coming election cycle, and what the appointment by Governor Walker of a cabinet-level oil and gas adviser may signal. I join Michael at 14:25 into the segment.

Listen here or at the widget below and for past episodes, go here.

This week (July 12, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week we discuss the current Special Session, the potential effects on those voting for a #PFDcut & whether the #AKleg should override the Governor’s line item veto of #OilCredits. I join Michael at 14:35 into the segment.

Listen here or at the widget below and for past episodes, go here.

Thursday’s “First Post” from Alaskans for Sustainable Budgets …

FB Ad Pic (with text)As some readers will realize from occasionally flipping through the Facebook widgets on the right side of this page, recently during this extended legislative session we have been posting somewhat extended pieces entitled “First Post” discussing issues related to Alaska’s fiscal policy.   Those pieces are available in full at the Facebook page for Alaskans for Sustainable Budgets.

Because we view this page as having a broader purpose we have not burdened this column with those daily posts. But given the significance of yesterday’s events — a series of line item vetoes by Governor Walker in advance of the start of next week’s Special Session — we are making an exception in this case and posting today’s “First Post” on this page in addition to the Facebook page for those readers who may follow this blog, but not the related Facebook pages.

Today’s column follows:

Thursday’s “First Post” from Alaskans for Sustainable Budgets: There will be several things to chew over from yesterday’s events as the state prepares for the start of next week’s Special Session, (a good summary of the day’s events is at http://goo.gl/YGN8y6), but we start with this.

While some will argue it is the case, Governor Walker’s actions yesterday in no way justify enacting ‪#‎permanent‬ changes to the Permanent Fund. The most significant “cut” he made (outside of the one-time ‪#‎PFDcut‬) — to‪ #‎OilCredits‬ — is not really a cut at all but a deferral of amounts which otherwise come due in FY 2017 into future years (or maybe, just to next Spring’s FY 2017 supplemental). Disappointingly given his previous statements, in an underreported event yesterday he even signed HB 247, which now codifies an extra $1 billion in spending (over the level which would have resulted in terminating the failed program) over the next four years on those very same credits.

The other cuts are much the same. Like the “cut” to #OilCredits, the “cuts” to school debt reimbursement (which drop the reimbursement levels below those provided by statute) are more a deferral than a permanent fix (which would require legislation). The additional cuts to K-12, the University and elsewhere similarly can be reversed in subsequent years (or again, even in next Spring’s FY 2017 supplemental). (A full list of the vetoes is at https://goo.gl/yzpAUT).

In short, the Governor didn’t cut spending so much as he masked it temporarily.

As we have made clear on these pages we do not support changing the calculation of the PFD in any event because of the adverse impact on Alaska’s private and overall economies. As we have said throughout, we believe the PFD is a stroke of economic genius designed by Jay Hammond and others to help replicate the effect of oil wealth on Alaska’s private and overall economy (through creating a private economy share of oil revenues) in the same way as occurs in the L48 producing states.

Moreover we do not buy in to Governor Walker’s (and others’) claims that you have to cut the PFD to save it. Those calculations are ‪#‎entirely‬ dependent on state spending and ongoing oil price assumptions that, in the case of oil prices, are inconsistent with the consensus projections of most analysts that understand these things, and in the case of state spending levels, are entirely, ENTIRELY, within the state’s own control. Losing the PFD isn’t inevitable as the Governor claims; it only occurs if this and subsequent legislatures continue spending at current, elevated levels.

But even for those that have said they would support restructuring the PFD if the state cut spending first, yesterday’s actions shouldn’t even remotely be enough to change their previous opposition. Making a #permanent change to the Permanent Fund on the basis of these one-year — if even that — deferrals and cuts would be the equivalent of falling for a cheap parlor trick. “Look these costs are gone,” would say the magician, “now give us a lifetime endowment for making that happen.” And then the moment he walks off the stage with the endowment — oops, there they are again.

Even if you favor “restructuring” the PFD based on spending reform, at least insist on receiving tit-for-tat. You want #permanent changes to the Permanent Fund, then insist on #permanent spending reform by changing the formulas and insisting on legislatively adopting real, permanent change to the state’s cost structure (e.g., the University consolidating into a single institution) that otherwise are driving spending. Don’t fall for the parlor trick of trading mostly one-time spending deferrals for #permanent PFD changes. That is a fool’s game.

Instead, if that is your view we suggest you let the Governor’s actions rest as they lie. He made one time “cuts” to state spending; then accept a one-time reduction to the PFD. If he (or you) want more, then do the hard work next session to make the legislative changes necessary to achieve similarly permanent reductions in the state’s cost structure.

For us, we hope that the ‪#‎AKLeg‬ summons enough votes to override the Governor’s one-time PFD veto. Almost the last thing Alaska needs as it heads into (if not already in) a recession is to take even more money out of the state’s overall economy by cutting the PFD. Applying the 1.4 factor developed in ISER’s March analysis (counting the knock-on effects, each $1 distributed through the PFD produces $1.40 in Alaska income), yesterday’s decision to cut $666 million from PFD distributions this coming fall will reduce OVERALL Alaska income by nearly $1 billion.

But in all events the absolute last thing Alaska needs is for these one time, largely spending deferrals to turn into a permanent reduction in Alaska income.

So, this is our reaction to the day’s events: We can live with a one-time cut if that is where it ends up. Just don’t fall for the parlor trick and turn it into something much, much — much worse.

A budget update …

At the request of Daniel Hamm, the Chair of the Alaska Republican Assembly, I prepared a brief update yesterday for the Assembly’s monthly meeting on where things stand on the Alaska state budget as we prepare to head into the next Special Session.

The hi-lite (if you can call it that) is the summary of where we are on the spending line. Despite claims by others, as things currently stand FY 2017 spending disappointingly looks to be headed toward the $5.3 billion mark, down only slightly from FY 2016.

With oil and gas tax credits — the third highest spending category in the FY 2017 budget — again on the agenda, the upcoming Special Session provides the legislature with yet another opportunity to drive that number lower.  Hopefully they will take it.

The update is above, or also available here.

Rick Halford & Brad Keithley on protecting the PFD …

Talk of Alaska (5.24.2016)

Click here for a link to the program.

Earlier this week, former State Senate President Rick Halford and Keithley Consulting President Brad Keithley appeared on Alaska Public Media’s “Talk of Alaska” to discuss why the Permanent Fund Dividend (PFD) should not be changed or “replumbed” as has been proposed this session by the Walker Administration.

Their joint appearance carries with it a significant amount of irony.

Following Walker’s 2014 election as Governor, Halford was selected to serve as Co-Chair of the Walker-Mallott Transition Team based on his deep understanding of and connections throughout the state, and Keithley was selected as the opening speaker at the first meeting of the full transition team following the election.  Keithley’s role was to outline the economic situation that Alaska faced and potential ways for dealing with it.

The irony is that each bases his opposition to the Administration’s “replumbing” proposal on the very reasons they were chosen to be part of the transition effort.

Halford believes that a PFD cut will have a deep, adverse and unjustified effect on the people of the state, and Keithley believes not only that it is unnecessary in the face of ongoing developments in oil markets, but also has the worst adverse impact on the overall Alaska economy of any of the fiscal options currently under consideration.

The website for this edition of Talk of Alaska is here.  A podcast of the discussion is available by clicking on the small speaker icon half way down the page.

How to finish this session: the movie (I mean, the video)

At the invitation of Daniel Hamm, on Tuesday evening of this week I spoke to the regular monthly meeting of the Alaska Republican Assembly on the current status of the Alaska budget in this legislative session.  The title of my presentation was “How to Finish This Session with a Sustainable Budget (and economy).”  A more detailed introduction to the presentation is here.  

Daniel went to the effort of filming (and perhaps the much greater effort of editing and uploading) the presentation and the Q&A session after. He has my most sincere appreciation for the effort.  The full video is about an hour and a half; perhaps more importantly, the Q&A session begins at about the 53:00 minute mark.  The YouTube is below and I have provided another copy of the slidedeck I used below that if you want to follow along.

How to finish this session with a sustainable budget (and economy): My presentation to the Alaska Republican Assembly

At the invitation of Daniel Hamm, the Chair, yesterday evening I spoke to the regular monthly meeting of the Alaska Republican Assembly.  Dan had asked that I brief the organization on the current status of the Alaska budget.  The title of my presentation was “How to Finish This Session with a Sustainable Budget (and economy).”

The presentation focuses on four issues:

  • What level of revenue should the budget use as a baseline.
  • Oil & gas tax credits.
  • The Operating & Capital budgets.
  • PFD cuts and other taxes.

Continue reading

Spending caps (or at least spending cap “guidance”) …

HFIN Hearing (4.13.2016)Last Tuesday afternoon I was sitting in my home office in Anchorage (working on taxes, actually) when I received a call, telling me that HB 311, this session’s version of a bill first introduced by Rep. Charisse Millet in 2013, was up for hearing before the House Finance Committee at 8:30am the following morning.  The bill, which requires the Governor to submit as part of his annual budget the “sustainable budget” number calculated consistent with the “Goldsmith/ISER” approach, had received two hearings in the prior legislature (2013-14) (here and here) but hadn’t received any attention from the Committee this session prior to the call.

As I described in my subsequent testimony, the approach contained in the bill could be used as a fiscal plan (which I have advocated in the past), as a spending cap (which I also have advocated) or as a spending guide.

Never one to pass up an opportunity to talk about sustainable budgets, by 8:30am the next morning I was in Juneau, with a presentation which combined my thoughts with those that Dr. Goldsmith previously had submitted in support of the bill (the slidedeck is below). Continue reading

Plugged and unplugged: This week (Apr 12, 2016) on the Michael Dukes Show …

Michael Dukes Show UnpluggedIt was a busy week with Michael Dukes; we did two sessions.

As regular readers will know, each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues.  This week, however, Michael and I also did a second show for podcast only, the first in a series Michael will doing about various topics called “The Michael Dukes Show Unplugged”.

This week’s “Unplugged” show is an uninterrupted (i.e., no breaks) hour that steps back from the normal format and plunges a bit deeper into Alaska’s current fiscal situation than we normally are able to accomplish in a regular show format.  It is designed for those in the Administration and Legislature looking for a one-stop opportunity to catch up with what we and others have been talking about, as well as others looking for a way to catch up on the current situation as we round the final turn into the home stretch of this year’s legislative session.  You can listen to it by clicking on the widget below, or by going here.

We also did the regular show on Tuesday. This week we discuss whether ‪#‎AKLeg‬ spending is going to end up topping $4.5B this session and what is coming in the Senate’s revenue bill? (I join Michael at 13:45 into the segment).

You can listen to that segment here or at the widget below and for past episodes, go here.

 

Adding (yet) another thing to the website …

Fiscal CliffWhen I started this website several years ago I largely viewed it as a one-stop shop where I could collect my thoughts on various topics and, using RSS feeds, have a place quickly to scan and, if I wanted a deeper dive, have links to current industry news stories.  Over time I shared a link to the website to various friends and business associates who had similar interests, and from there it has continued to develop a somewhat broader audience, but at its core I still view it mostly as a place that I can go quickly in the mornings or during the day to catch up on things that I find important.

In that vein I have added today a new “window” on the right hand side of the website where I intend to keep a running version of the current shape of the FY 2017 Alaska budget as it moves through the remaining steps until enacted and signed by the Governor.  The version there now reflects the versions of the Operating Budget passed by the House and Senate last month, updated with the recent revision to oil & gas tax credits (HB 247) forwarded out of House Finance last Friday and now awaiting action by the full House.  I intend to update the window later today for the version of the Capital Budget adopted today in Senate Finance.

As you will note, adding the costs associated with the recent revision to oil & gas tax credits now puts the proposed House spending level well over the $4.5 billion mark which several in House leadership and on the Finance Committee previously have identified as their target.  Readers will find posts about our deep concerns on that development at Alaskans for Sustainable BudgetsWe will note the addition of future revisions to the window at that same site.

As always, we encourage readers to share any thoughts they may have on the information available at this site.

Given my shot, what I think is important for Alaskans to understand about the #AKbudget and #AKoil …

At the invitation of Greg Huff, the Director of the Alaska Council on Economic Education, I was the evening’s guest lecturer at yesterday’s session of this year’s “Economics Spring Forum,” an annual 3 credit course for teachers focusing on economic and financial issues. The Forum is sponsored by the Council in conjunction with UAA’s Center for Economic Education. Continue reading

A Way Forward on the #AKBudget: My presentation to the Alliance …

This morning I spoke to the regular, every-other Thursday breakfast meeting of the Alaska Support Industry Alliance on A Way Forward on the Alaska Budget.  The speech comes on the cusp of a dramatic next few weeks in the Legislature, as they come to grips with final state spending levels and grapple with how they are going to pay for them.  The speech summarizes my views on how those issues should be resolved.

An ad AK4SB is running the next two days on FB, Twitter and yes, Instagram …

We don’t accept or often publish ad’s on this page, but this one is so important we decided to publish it here as a column piece:

#AKBudget: Where I differ from the Governor, Sen. McGuire and Rep. Hawker …

Late last week I spoke to the Valley Republican Women’s Club (Thursday) and the Kenai Chapter of the Alaska Support Industry Alliance (Friday).  The subject for both was A Way Forward on the Alaska Budget.

As I have continued to speak to Alaskans about this issue over the last several weeks in both public forums and elsewhere I increasingly have come to realize that the current debate over Alaska’s fiscal situation ultimately boils down to two issues:  first, the outlook for future oil (and LNG) price and production levels, and second, the perceived ability to cut state spending further from current levels.

If you believe the out-years (beyond three years) of the price and production forecast reflected in the Department of Revenue’s Fall 2015 Revenue Sources Book (RSB) are undeniably accurate, or if you believe that spending cannot be cut significantly from current levels, then you come to one conclusion.

On the other hand, if you believe as I do both that the out-year forecast contained in the Fall 2015 RSB may be overly pessimistic and that state spending can be reset successfully nearer levels which are more reflective of the 11-year period extending from FY 1995 – 2006 (the last time Alaska went through a low revenue cycle), adjusted for inflation and population growth — in other words, on what economists refer to as a real (apples-to-apples) basis — then you come to different conclusion. Continue reading

A Sustainable Alaska Budget …

BGK (State Senate Affairs 2.4.2016)

Yesterday, Scott Goldsmith and I testified before the Senate State Affairs Committee on SB 128 (the Governor’s fiscal bill) and SB 114 (Senator McGuire’s fiscal bill, which GCI has been using in its presentations).  The video of the hearing is here.   Scott’s testimony starts at 17:05:00 into the video, mine at 1:10:00.

Both of us testified using the Goldsmith sustainable revenue model, and both of us concluded, though for different reasons, that the Legislature should not enact PFD cuts or broad based taxes this year.  Scott believes that such revenue measures may be needed in future years; based on the outlook I believe is appropriate to the state’s current fiscal situation I am not as certain.  The slide decks follow:

Based on my outlook (at slide 10) I conclude that the current sustainable revenue number is $4.3 billion (compared with a current, FY 2016 budget of $5.4 billion).  As I outlined in the testimony (at slide 11) I believe that spending can be reduced to or near this level with the effect of avoiding PFD cuts or taxes.

In his testimony Scott compares different approaches to deriving a number, using various inputs and timeframes (at slide 15).  Using a 3-year moving average, which is designed to smooth out what otherwise might be year-to-year jumps due to changing oil values, he concludes that the current sustainable revenue number is $4.39 billion.

Separately during my testimony I expressed significant concerns about the effects of cutting the PFD on Alaskans and Alaska’s private economy (at slides 16-18).  Scott did as well (at slide 18).

In its coverage of the hearing (For lawmakers, 3 options to tap Fund earnings) the Juneau Empire listed the approach as a third option before the Legislature this session (in addition to the Governor’s and Sen. McGuire’s proposals).  Alaska Dispatch News columnist Dermot Cole had his own take on the hearing, and another view from Alaska Commons — which confuses some of the testimony to create a conflict between Scott’s testimony and mine similar to what Dermot initially did in writing his column (until “Goldsmith and Keithley told me they do not believe there is a contradiction …”) — is available here.

To some degree the morning hearing was an opener for a subsequent hearing later in the day to take broader public testimony on the Governor’s proposed approach.  As several of the state’s media outlets reported, there was significant opposition to cutting the PFD during that hearing .  (Alaska Dispatch News:  “Governor’s budget plan picked apart as Alaskans debate Permanent Fund changes;” Fairbanks News-Miner, “Public testimony opens for new PFD plan;”  KTUU, “Alaskans weigh in on proposal to finance government with Permanent Fund earnings;” KTVA, “‘Don’t touch my PFD’ Public weighs in on Governor’s PFD proposal“).  In part the later hearing provided real life examples of the concerns Scott and I raised in the morning about the adverse effects on Alaskans and the private economy from cutting the PFD.

It will be interesting to see where this goes. I anticipate it won’t be the last time this session we have the discussion.

The FY 2016 Budget: Oops …

Fiscal CliffRemember last spring when the Alaska Legislature finally finished up the FY 2016 budget.

Yep, I do too.

The spending level authorized when they did?  $5.18 billion (see circled number below, line 40).

FY 2016 Fiscal Summary (1.23.2016)

Continue reading

A Way Forward on the Alaska Budget: A Presentation to the Friday Fairbanks GOP Lunch

Speaking on behalf of Alaskans for Sustainable Budgets and following on the heels of Governor Walker’s State of the State last night, I had the privilege of being the luncheon speaker at today’s Friday Fairbanks GOP Lunch to discuss the Alaska state budget.  As with a previous presentation last month to the Alaska Republican Assembly, the speech centered around three points:

  • Alaska is facing a budget challenge but it may not be as bad as some suggest.
  • In my view, there is a solid and realistic fiscal alternative to addressing the state’s current budget issues that doesn’t rely on PFD cuts or taxes.
  • The Governor’s and GCI’s (“Alaska’s Future“) PFD cut and other tax proposals are unnecessary, are imbalanced (between the private and government sectors) and may do more harm than good to the overall Alaska economy.

A copy of the slide deck is available in the window above or here.

Cuts to PFD much, much deeper than cuts to spending under Governor’s, GCI plans …

ThelmaLouise4_001PyxurzIn the course of recent conversations with Alaskans I have heard some say that they ultimately may be prepared to accept cuts in the PFD and/or the imposition of other taxes on the private sector as long as the state is prepared to make a similar level of cuts in the state government sector.

The purpose of this post is to analyze whether the level of cuts to each sector proposed each under the Governor‘s and GCI‘s recent fiscal plans meet that objective.

The conclusion?  Neither the Governor’s nor GCI plans treat the two sectors equally, by a long, long shot. Continue reading

How deep are the Governor and GCI proposing to cut the PFD …

FiscalCliffThe short answer is pretty damned deep, a lot more than they are proposing to cut government spending.

One of the things I spent time on while preparing for my presentation last week to the Alaska Republican Assembly (“A Way Forward on the #AKbudget“) was understanding the effect on the PFD of the Governor’s and GCI’s proposed fiscal plans.

It’s not necessarily an easy thing to do.  Both the Governor’s and GCI’s fiscal plans propose to change Alaska’s fiscal structure significantly, with the effect that it is challenging to trace the sources and uses of funds in place under the state’s current fiscal approach to how and where they are used under the proposed plans.  But it is possible, with some patience. Continue reading

A Way Forward on the #AKbudget

As I have before, Tuesday evening I presented to a meeting of the Alaska Republican Assembly on Alaska’s current fiscal situation.   The slide deck is above.

The presentation covered my views on what the current outlook is for Alaska’s fiscal situation if we continue down the road of “business as usual,” an analysis of the alternatives that have been proposed for changing course and my thoughts on the best way forward.

My conclusions?

  • Alaska is not “falling of the cliff” immediately, but the 10-year outlook demonstrates we can’t continue “Business as Usual”
  • “Cuts only” based on traditional revenue sources fall well below FY 2006 adjusted (pre-bubble) spending levels, send Alaska back to pre-oil spending levels
  • Based on current, long-term fiscal outlook, “Sovereign Wealth Fund” and SB 114 both go unnecessarily far by cutting PFD and taxes
  • Based on current, long-term fiscal outlook, Goldsmith model remains best current approach (properly monitored and adjusted)
  • The Legislature needs to respond to S&P this session

My proposal at tomorrow’s “Forum on Alaska’s Fiscal and Economic Future” …

Alaska's Fiscal and Economic Future ForumAs most readers likely are already aware, tomorrow (Saturday, September 19, 2015) Alaska Common Ground and the University of Alaska – Anchorage Institute of Social and Economic Research (“ISER”) are sponsoring a day long forum on Alaska’s fiscal and economic future.  A description of the forum and detailed agenda is available here.

The forum is from 9am – 4pm, at the Wendy Williamson Auditorium located on UAA’s campus.  For those unable to attend in person, the forum will also be televised live on 360 North, the same public television system that televises Gavel-to-Gavel.

Based on the agenda and discussions with both those who have brought it together and various speakers, I anticipiate it will be a significant event in shaping the course of the coming debate on Alaska’s fiscal future.

One part of the forum will involve presentations by four Alaskans, each of whom will discuss and defend their own budget proposals, with audience members voting after the presentations on which they favor.  Those presenting are John Havelock, former Alaska attorney general; Liz Medicine Crow, president/CEO, First Alaskans Institute; Gary Wilken, former Alaska state senator … and me.

Those interrogating the panelists about their proposals (I am confident in a good sense of the word — hahahaha) are  Cliff Groh, Chair of Alaska Common Ground; Gunnar Knapp, ISER director and professor of economics; David Teal, director, Alaska Legislative Finance Division; and Larry Persily, former federal coordinator of the Alaska Natural Gas Pipeline Project, and former deputy commissioner, Alaska Department of Revenue.

Somewhere along the way I can guarantee I will mumble to myself (because I always do), “why did I agree to do this?” … and somewhere later along the way I will realize the answer.

Each of the “citizen panelists” has been asked to provide materials explaining and supporting the position.  These will both be handed out to those attending in person and available online for those tuning in via web or television.  For any that want to have a flavor for what is likely to be discussed — or get a jump in formulating questions, my set follows.

We will see how this goes ………

This week (July 5, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week Chris Story, who was sitting in for Michael, and I discuss whether the #PFDcut is the right step for the #AKecon & the background, significance and where things go from here as a result of the state’s rejection of the Prudhoe Bay Plan of Development.  I join Chris at 14:00 into the segment.

Listen here or at the widget below and for past episodes, go here.

When once isn’t enough: Second appearance this week (June 30, 2016) on The Michael Dukes Show …

Usually each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. Yesterday, however, the Governor announced his #AKbudget vetoes for the year, which included for the first time in the state’s history a line item veto of the PFD, capping this year’s otherwise projected $2000+ dividend at $1000.

In response, Michael asked me to join the show for a second time this week to discuss the PFD cut, the overall budget and their impact on the overall Alaska economy and Alaskans. I join Michael at 13:20 into the segment.

Listen here or at the widget below and for past episodes, go here.

This week (June 27, 2016) on The Michael Dukes Show …

Usually each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week I am travelling so we did the segment a day early, on Monday.

This week we discuss my exchange last week with Rep. Mark Neuman on the #AKbudget, my thoughts on how we should be looking at the proposed #PFDcut from an overall #AKecon perspective, and whether its time to start panicking about the future of the #AKLNG project. I join Michael right at the top (8am) of the segment.

Listen here or at the widget below and for past episodes, go here.

This week (June 21, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week we discuss whether those opposing PFD cuts are a “screaming minority” as one commentator (who also happens to be an Alaska Gasline Development Corporation board member) said yesterday or is something else going on (short answer, there is), and rather than resisted, is the upcoming Special Session something that should be viewed instead as an opportunity to reduce spending more. I join Michael at 16:00 into the segment.

Listen here or at the widget below and for past episodes, go here.

This week (June 14, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week we discuss why we don’t need to cut the #PFD to save it and the role that #AKOilCredits play in whether we can avoid it. I join Michael at 14:45 into the segment.

Listen here or at the widget below and for past episodes, go here.

This week (June 8, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. On Wednesday of this week (I was traveling Tuesday) we discussed Monday’s Senate vote to cut the #PFD, why that step is bad for the overall Alaska economy and why it wasn’t necessary in the first place. I join Michael at the start (:30) into the segment.

Listen here or at the widget below and for past episodes, go here.