Alaska Gov. Mike Dunleavy is now taking action to increase the amount of natural gas being produced in Cook Inlet as the state’s supply of the fuel struggles to keep up with demand.
Dunleavy said his administration is proposing legislation focused on incentivizing future natural production in the Cook Inlet.
Cook Inlet gas royalties averaged just 3.6% of state royalty income in the 2022 fiscal year, but Dunleavy and Department of Revenue Commissioner Adam Crum said royalties from existing production will not be reduced by the proposal — only new production. “We believe that we can get gas flowing in two to three years, which will then assist with that dropoff in some of the gas that we’re currently producing. We got a lot of pools of gas out there, we got a lot of pockets of gas out there. There’s no doubt about it. That’s been confirmed by a number of different independent agencies,” Dunleavy said.
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