Half Price Sale: Monday’s drop put US oil prices down 50% from the June peak of $107.26/barrel… Alaska stops spending on oil projects as prices tumble



Alaska stops spending on oil projects as prices tumble:

Low U.S. oil prices are starting to threaten major energy projects, specifically in Alaska.

Alaska Gov. Bill Walker (I) has stopped spending on six new projects, The Associated Pressreports

Walker pointed to Alaska’s $3.5 billion budget deficit for the need to halt spending.

“The state’s fiscal situation demands a critical look and people should be prepared for several of these projects to be delayed and/or stopped,” Walker’s budget director Pat Pitney told the AP.

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http://thehill.com/policy/energy-environment/228162-alaska-stops-spending-on-oil-projects-amid-price-tumble

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