‘This news deals a blow to the state’s widening deficit’

JUNEAU – This morning, ConocoPhillips announced it will cut production in Alaska by approximately 100,000 barrels in June. The decision was made because of the world-wide collapse of the price of oil, which has fallen to $10.63 a barrel in Alaska due to the drop in demand during the COVID-19 pandemic.

In response, the co-chairs of the House Resources Committee released the following statement:                                                                                                                                                                                

“This morning, Alaskans received yet another troubling reminder of the economic challenges that lie ahead for our state due to COVID-19. Our thoughts are with workers and families that will be impacted by ConocoPhillips’ difficult decision to reduce daily production. This news deals a blow to the state’s widening deficit and underscores the need for a comprehensive strategy to address Alaska’s financial crisis.”

Rep. John Lincoln (I-Kotzebue) and Rep. Geran Tarr (D-Anchorage)

CONTACT
Joe Plesha
Press Secretary
Alaska House Majority
(907) 465-6791
Joe.Plesha@akleg.gov