State: oil at $67 in FY 2010
State expect prices to rise through 2019, production to rise slightly in 2013 before falling again; Galvin says industry spending expected to be $4.5B in FY 2010, $5B in FY 2011
For Petroleum News
When the State of Alaska released its revenue forecast in December 2008, guessing the price of oil in the coming year seemed as reliable as guessing the weather in the coming year. In the previous six months, the price of a barrel of oil fell $100, among the fastest declines ever.
“What a difference....
[additional news subjects in this story]
Production to rise, then fall
Spending expected to increase
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