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State Senator District E
Senator Cathy Giessel Newsletter
UPDATES
Issues affecting
your family, community and jobs.
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Dear Friends and Neighbors,
I firmly believe a person can't have too much rhubarb! (photo of one of my 5 patches of rhubarb)
During this summer and fall, I am attending community council meetings, organization conferences, and continuing work on my bills related to healthcare, energy, economy and workforce.
My staff and I are available to help with state government issues where we can.
Please email me or phone the office with feedback, issues or concerns.
sen.cathy.giessel@akleg.gov
907.269.0181
Items in this Newsletter:
· Anchorage Economic Development Corp - Choose Anchorage
· Alaska Economic Trends
· Debt Ceiling Deal Items also included
· DNR Land Sale
· Current Topics, Economy, Health Care, Energy
· Alaska History
· EIA Forecast of Oil Prices
· U.S. Clean Hydrogen Strategy
· Oil and Permanent Fund Resources
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Anchorage Economic Development Corporation hosted about 15 legislators and myself this week.
The topic discussed was Choose Anchorage, a framework for revitalization (November 2022). The overview report is here.
The planning process and goals are similar to processes that other cities around the US went through to successfully restore their community.
The presentation by Bill Popp, President and CEO, was very informative. The work being done by Choose Anchorage seeks to bring us out of the recession that began in 2015. We are in a national competition for employees, as Alaska has had a net out-migration over the last 10 years. In Anchorage, we have had a decline of about 15,000 people in the 18-64 age range. This is our workforce.
He identified that 34% of the workforce leaving Alaska are headed for WA, OR, AZ & CO. How do we stop this outflow? How do we attract previous Alaskans to come back and new Alaskans to come?
An interesting point shared was that not everyone thinking about where to settle is looking for a place with mountains and lots of outdoor activities; many are looking for vibrant cultural, music, restaurant and other venues in a city. Perhaps touting trails and skiing is too limited an appeal?
The attached report covers the information shared by Mr. Popp. Its important stuff and I appreciate the work of the many people working on this.
Leaning into Anchorage's future: An in-depth session with Roger Brooks. AEDC
Roger Brooks, a destination assessment expert, and his team did an assessment of Anchorage. In August 2022, Brooks outlines eight key initiatives to harness our city's most critical revitalization opportunities from the perspective of potential visitors, potential investors, and potential residents. The recording is here.
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Debt Ceiling Negotiations: Compromise Reached
The White House and Congress negotiated a path forward that will raise the debt ceiling while putting in place spending caps for fiscal years 2024 and 2025 that keep nondefense discretionary spending roughly flat with fiscal year 2023.
In addition, the deal:
· Slightly increases defense spending and veterans’ medical care.
· Makes no changes to Medicaid.
· Codifies that the student loan pause ends at the end of August but makes no other changes to student loans.
· Changes the work participation rate (WPR) that states must meet to receive federal TANF funds. The WPR is the percentage of a state’s work-eligible TANF participants who are engaged in work or work activities. There are two WPRs that a state must meet: 50% of all families receiving TANF assistance must be engaged in work activity at least 30 hours per week, and 90% of two-parent families must be engaged in work activity for a minimum of 35 hours per week. States can reduce their mandated percentage with a “caseload reduction credit” that lowers the WPR by 1% for every 1% decline in the state caseload since FY 2005. In FY 2021, 32 jurisdictions had a 0% after-credit WPR. The debt ceiling agreement would recalibrate the caseload reduction credit by only counting reductions in the number of families receiving assistance since FY 2015.
· Phases in a requirement that able-bodied adults who are 55 and younger and do not have dependents must work or perform work activities to receive SNAP benefits; current requirements apply to recipients ages 18-49. Under the agreement, the age requirement would phase up to age 54 beginning in fiscal year 2025. Recipients are exempted from the requirements if states can identify them as experiencing homelessness, veterans or individuals 24 years old or younger who are transitioning from foster care. Current law exempts only those unable to work because of a physical or mental disability or pregnancy. These changes would sunset on Oct. 1, 2030. The agreement also reduces the percentage of participants that states can waive in areas with high unemployment from 12% to 8%.
· Rescinds unspent COVID-19 relief and rescinds and redirects upward of $21 billion previously earmarked for the IRS.
· Includes a two-year time limit on conducting environmental impact statements and a one-year limit for environmental assessments under the National Environmental Permitting Act.
· Directs the North American Electric Reliability Corp. to complete a study within 18 months on interregional transfer capability transmission concerns.
· Rescinds $2.2 billion in unobligated funds authorized by the FY 2021 omnibus for the Federal Highway Administration’s infrastructure programs, which provide funds for highways, bridges and tunnels. Infrastructure Investment and Jobs Act funding is not impacted.
· Approves all remaining permits to complete the Mountain Valley natural gas pipeline, which the White House supports. Directs the U.S. Army Corps of Engineers to issue the water quality certification necessary, bypassing any approval or denials from the West Virginia Department of Environmental Protection, which had previously approved the project but whose decision was vacated by the 4th U.S. Circuit Court of Appeals.
The House will begin consideration of the Fiscal Responsibility Act of 2023 this week with the goal of passing it before reaching the debt limit, which the Treasury Department has updated to occur on June 5.
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DNR's 2023 Land Auction
The Department of Natural Resources, Division of Mining, Land and Water, Land Conveyance Section’s 2023 Land Auction, Offering #495, begins today at 10:00 am. The auction brochure is now available online here. Alaska residents are invited to bid on 209 parcels statewide. Bids will be accepted between June 1st and October 3rd, 2023.
DNR continues to offer competitive in-house financing via state land sales contracts, making our offerings accessible to a broad customer base and improving marketability.
You can follow us on Facebook, Instagram at @Alaska_Land4Sale, or Twitter at @AlaskaLand4Sale.
If you would like more information about our land sales program, please contact myself or Hannah Uherkoch, Acting Land Sales Section Manager, at hannah.uherkoch@alaska.gov or (907) 269-8599.
Alaskans can now bid on 209 parcels on State Land Auction. Radio Kenai
The Department of Natural Resources (DNR) is inviting Alaskans interested in owning a piece of the Last Frontier to participate in the 2023 Alaska State Land Auction offering #495, which includes a mix of 209 road-accessible or remote parcels throughout the state.
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Current Topics
Sustainable energy: dishing out food security. AK Biz Magazine
Lunch and breakfast at the 2nd annual Alaska Sustainable Energy Conference were buffets. Because the caterer controlled the temperature of the uneaten portions, leftover food could be donated to the Anchorage Gospel Rescue Mission on Tudor Road. This is a change from the inaugural event in 2022, when attendees were treated to table service, and untouched entrees and desserts were dumped in trash cans.
Alaska's rate of drownings, highest in nation, changed little in 6 years, state report says. Alaska Beacon
Alaska has the nation's highest rate of drowning deaths, and the rate was consistently high over the past six years, according to a new state report.
Quote du jour: Repelling smells. Axios
Thanks to warmer wetter weather, mosquito season could be especially itchy and long this year.
Remembering D-Day: Key facts and figures about epochal World War II invasion. AP News
The D-Day invasion that helped change the course of World War II was unprecedented in scale and audacity. As veterans and world dignitaries commemorate the 79th anniversary of the operation, here's a look at some details about what happened.
Girdwood's only licensed child care facility 'at the end of the line' as organizers look to expand. Alaska Public Media
Little Bears is a fairly small building, essentially one large room with a wall of cubbies separating the toddler and preschool classrooms. Former Little Bears board member Krystal Hoke said the building was originally built as a community center for Girdwood in the 1960s.
Economy
How killing pensions rousted teachers in Alaska. Alaska Beacon
At first, I didn't take it seriously. "What politician in their right mind," I thought, "would want to strip Alaska public employees of their pensions, especially since they have already denied social security?" It was 2005, and conservative legislators were pushing to do just that.
State roughly halves the number of Alaskans waiting on food aid, but more than 8,000 remain. Alaska Beacon
Wood borrowed money from her daughter to keep up with bills for a few months. She said she is now behind on rent again after she spent her income on food, but feels lucky because her landlord hasn't kicked her out- instead he shares moose meat with her and gives her quarters for the laundry machine.
Alaska seeks taxes from Turo car sharing platform in long-running dispute. ADN
Alaska businesses win SBA honors for 2023. AK Biz Magazine
An apparel manufacturer, an environmental engineer, and a construction firm are the Alaska winners of annual awards from the US Small Business Administration (SBA).
Saudi Arabia's oil production cut could affect Alaska's state finances. Alaska Beacon
Alaska's budget for the 12 months that begin July 1 expects that North Slope oil prices will average $73 per barrel over those 12 months. Oil revenue represents about two-fifths of Alaska's general-purpose state revenue and is the second-largest source of that revenue, behind only an annual transfer from the Alaska Permanent Fund.
Fisheries
Fishers harvesting abundant Bristol Bay sockeye could fill knowledge gaps about declining Chinook. Alaska Beacon
In the Bristol Bay region, sockeye salmon runs have been booming while Chinook runs have dwindled. Now scientists are seeking to enlist fishing crews in the effort to find out why, as well as what can be done about the Chinook troubles.
Politics
Here's what passed and what didn't in Alaska's legislative session. Alaska Beacon
Alaska's legislative session ended last month, and Gov. Mike Dunleavy has yet to consider most of the 31 bills passed by both House and Senate this spring.
The Legislature's 31 bills are the third-fewest of any first-year session since statehood. Only 2017 (26 bills) and 2019 (29 bills) had fewer.
A major pharmacy-related bill, regulating pharmacy benefit managers, was introduced by Sen. Cathy Giessel, R-Anchorage, but didn't get a hearing during the session. Several states have passed law regulating benefit managers, citing excessive profit-taking that contributes to rising health care costs.
The Legislature combined two bills dealing with home care for seniors and the disabled, then passed them under one umbrella. One of those bills was by Sen. Cathy Giessel, which covered intellectually and developmentally disabled folks.
Lawmakers react to report of suspected Chinese spies attempting to enter Alaska military sites. Alaska's News Source
State lawmakers are responding to a report that there are Chinese spies in Alaska posing as tourists and trying to access military sites.
Alaska Gov. Mike Dunleavy appoints figure behind illegal loyalty-pledge scheme to university board. Alaska Beacon
Gov. Mike Dunleavy has appointed Tuckerman Babcock, a longtime Republican and former aid, to the University of Alaska Board of Regents. Babcock, together with the governor, orchestrated an illegal loyalty pledge scheme, a federal judge ruled two years ago.
SCOTUS sides with government in false claims ruling. Axios
Justices unanimously overturned a 7th Circuit of Appeals ruling that the chains didn't "knowingly" violate the False Claims Act when they offered cash-paying customers extended discounts on generic drugs while charging the government full price.
Health Care
Alaska Pacific University poised to expand nursing program, thanks to U.S. Department of Labor grant. Alaska Beacon
A federal grant of nearly $3 million over 5 years will enable Alaska Pacific University to vastly expand its nursing-education programs. The grant, from the U.S. Department of Labor, was one of 25 given to public-private partnerships across the nation to expand nursing training.
Death rate from drinking nearly doubles in Alaska over 2 years. Alaska Public Media
The rate of deaths due to drinking alcohol nearly doubled over a two-year period in Alaska, based on data from the Alaska Department of Health. Those years, 2019 to 2021, included the start of COVID-19. The deaths counted include people who die from alcohol poisoning and those who die from alcohol-related causes like liver disease.
Millions are misusing prescription drugs, CDC says. Axios
More than 9 million American adults aren't taking their medications as prescribed due to the cost, with those who are uninsured or disabled among the likeliest to cut corners, according to new CDC data.
More states OK postpartum Medicaid coverage beyond two months. Alaska Beacon
At least eight state, including Alaska (SB 58) this year have decided to seek federal approval to extend postpartum Medicaid coverage, leaving just a handful that have opted not to guarantee at least a year of health care for women during that critical period after pregnancy.
Data du jour: Non-profit hospital charity care drops. Axios
Non-profit hospitals' spending on charity care decreased from $6.7 million in 2012 to $6.4 million in 2019. For-profits increased their charity care spending from $2.3 million to $6.3 million during the same period.
More state embrace drug price boards to curb health costs. Axios
More states are pushing their own plans to lower drug costs, viewing it as an extension of efforts to set payment rates for utilities, transportation and other essential services. Colorado authorized a state prescription drug affordability board in 2021 and is rolling out a dashboard this week that will show which drugs are the likeliest to have price caps.
Alaska teens, tweens steer peers away form vaping and smoking. Alaska Public Media
Youth came from villages like White Mountain, Chevak and New Stuyahok, all flown in by the Rural Community Action Program (RURAL CAP) for a weeklong training in late May to learn about the dangers of nicotine addiction. Although smoking rates have gone down in the state, many teenagers are vaping instead and some are using chewing tobacco or the newer form of nicotine pouches.
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Alaska History
· 1903 June 27, Final connection Trans-Alaska Telegraph System, Salcha River
· 1906 June 6, Territorial Capital officially moved from Sitka to Juneau
· 1915 June 5, First issue of Anchorage Times
· 1915 June 27, Hottest temperature recorded in Alaska, 100 degrees F, Fort Yukon
· 1940 June 27, Ft Richardson & Elmendorf Air Field activated
· 1941 June 2, Japanese bombed Dutch Harbor
· 1951 June 18, daily Alaska Railroad passenger service between Fairbanks - Anchorage
· 1958 June 9, 8.0 earthquake Yakutat
· 1958 June 30, U.S. Senate passed Alaska Statehood Bill
· 1988 June 13, Nome-Provideniya, Russia friendship flight, Alaska Airlines
· 1996 June 2-10, Miller’s Reach Fire, $8.8 million damage
· 1986 June 2, Northwest Arctic Borough created (Red Dog Mine being economic foundation)
· 1990 June 11, Norma Jean Sanders first woman solo climb Denali
· 1994 June 28, 550 pound Halibut caught near Dutch Harbor
· 2000 June 7, Whittier Tunnel opened
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Short-Term Energy Outlook
June 6, 2023, Release
Overview
· Global oil markets. Following the OPEC+ announcement on June 4 to extend crude oil production cuts through 2024, we forecast global oil inventories to fall slightly in each of the next five quarters. We expect these draws will put some upward pressure on crude oil prices, notably in late-2023 and early-2024. We forecast the Brent crude oil spot price will average $79 per barrel in the second half of 2023 and $84/b in 2024. (note from Cathy: FY24 budget (begins 7/1) is fully funded at $73/barrel oil.)
· Global oil consumption. We forecast global liquids fuels consumption will rise by 1.6 million barrels per day (b/d) in 2023 from an average of 99.4 million b/d last year. Consumption in our forecast grows by an additional 1.7 million b/d in 2024. Most of this growth comes from non-OECD countries.
· U.S. economy. Our forecast assumes U.S. GDP growth of 1.3% in 2023 and 1.0% in 2024, which is down from last month’s forecast of 1.6% in 2023 and 1.8% in 2024, based on the S&P Global macroeconomic model for the U.S. economy and our energy price forecasts. Lower GDP growth reduces total U.S. energy consumption in both years compared with last month’s forecast.
https://www.eia.gov/outlooks/steo/
Contact the STEO team: steo@eia.gov
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Press Release
For Immediate Release June 5, 2023
News Media Contact
(202) 586-4940, doenews@hq.doe.gov
BIDEN-HARRIS ADMINISTRATION RELEASES FIRST-EVER NATIONAL CLEAN HYDROGEN STRATEGY AND ROADMAP TO BUILD A CLEAN ENERGY FUTURE, ACCELERATE AMERICAN MANUFACTURING BOOM
New Government-Wide Strategy Advances Clean Hydrogen and Supports President Biden’s Investing in America Agenda for Building Clean Energy Economy, Creating Good-Paying Jobs, and Boosting American Competitiveness
WASHINGTON, D.C. — The Biden-Harris Administration today released the U.S. National Clean Hydrogen Strategy and Roadmap, a comprehensive framework for accelerating the production, processing, delivery, storage, and use of clean hydrogen—a versatile and flexible energy carrier that can be produced with low or zero carbon emissions. Achieving commercial-scale hydrogen deployment is a key component of President Biden’s Investing in America agenda, and critical to building a strong clean energy economy while enabling our long-term decarbonization objectives. Estimates indicate that America’s growing hydrogen economy has the potential to add 100,000 net new direct and indirect jobs by 2030. Developed by the U.S. Department of Energy (DOE), in partnership other federal agencies, the Strategy and Roadmap underscores the President’s whole-of-government approach to addressing the climate crisis and achieving a carbon-free grid by 2035 and a net-zero emissions economy by 2050.
“Accelerating the deployment of hydrogen is key to achieving President Biden’s vision for an affordable, secure clean energy future,” said U.S. Secretary of Energy Jennifer M. Granholm. “That’s why DOE worked alongside our federal partners to develop the U.S. National Clean Hydrogen Strategy and Roadmap that will lay the foundation for a strong and productive partnership between the public and private sectors and will guide government and industry to realize the full potential of this incredibly versatile energy resource.”
“President Biden understands that growing America’s clean hydrogen capability can spur good-paying union jobs, support local economic development, and help decarbonize industries long seen as ‘hard to decarbonize,’” said Assistant to the President and National Climate Advisor Ali Zaidi. “This roadmap will align the private and public sectors on a shared path to drive faster toward a cleaner, more secure energy future.”
Clean hydrogen offers substantial economic benefits and will help create tens of thousands of new, good-paying jobs across the country, particularly in underserved communities. According to DOE’s Pathways to Commercial Liftoff: Clean Hydrogen report, America’s growing hydrogen economy has the potential to add 100,000 net new direct and indirect jobs by 2030. By enabling the development of diverse, domestic clean energy pathways across multiple sectors of the economy, clean hydrogen will strengthen American energy independence and accelerate the American manufacturing boom that has already created over 800,000 jobs since President Biden took office.
Clean hydrogen is set to play a vital future role in reducing emissions from some of the most energy-intensive sectors of our economy, including industrial and chemical processes and heavy-duty transportation. Clean hydrogen can also support the expansion of variable renewable power by providing a means for long-duration energy storage and offers flexibility and multiple revenue streams for all types of clean power generation—including renewables, advanced nuclear, and other innovative technologies.
The Strategy and Roadmap provides a snapshot of hydrogen production, transport, storage, and use in the United States today and a vision for how clean hydrogen will contribute to national decarbonization goals across multiple sectors in the future. It examines future demand scenarios—with strategic opportunities for the domestic production of 10 million metric tonnes (MMT) of clean hydrogen annually by 2030, 20 MMT annually by 2040, and 50 MMT annually by 2050. It also complements a historic $9.5 billion investment for clean hydrogen through the President’s Bipartisan Infrastructure Law, ongoing research and development efforts across the federal government, as well as strong policy incentives—including a new production tax credit for clean hydrogen—in the historic Inflation Reduction Act.
The Strategy and Roadmap identifies three key strategies to ensure that clean hydrogen is developed and adopted as an effective decarbonization tool, including:
· Targeting strategic, high-impact uses for clean hydrogen, which will ensure that clean hydrogen will be utilized in the highest benefit applications, where limited alternatives exist (such as the industrial sector, heavy-duty transportation, and long-duration energy storage to enable a clean grid);
· Reducing the cost of clean hydrogen by catalyzing innovation and scale, stimulating private sector investments, and developing the clean hydrogen supply chain; and
· Focusing on regional networks with large-scale clean hydrogen production and end-use in close proximity, enabling maximum benefit from infrastructure investment, driving scale, and facilitating market liftoff while leveraging place-based opportunities for equity, inclusion, and environmental justice.
To ensure the U.S. National Clean Hydrogen Strategy and Roadmap addresses the needs and incorporates input from the broadest possible array of hydrogen stakeholders, it was released in draft form for public comment in September 2022. The final version released today reflects feedback from across the Biden-Harris Administration, stakeholders in industry, academia, and the non-profit sector, as well as state, local, and Tribal governments. It also incorporates findings from DOE’s March 2023 report, Pathways to Commercial Liftoff: Clean Hydrogen. Given the rapidly evolving market, technology, and policy environment as well as community needs and engagement, the Strategy and Roadmap was designed to be a “living document” and will be updated at least every three years.
Learn more about U.S. National Clean Hydrogen Strategy and Roadmap, and how DOE’s Hydrogen Program is working to support President Biden’s efforts to address the climate crisis and deliver a clean and equitable energy future for all.
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Alaska Oil Resource Values
ANS crude oil price (6/7/23): $76.56
The current FY23 budget requires $89/barrel oil to be fully funded.
FY24 budget (begins 7/1) is fully funded at forecast $73/barrel oil.
Price on 9/30/22: $86.91
Price on 6/29/22: $116.84
Price on 3/8/22: $125.44
Price on 12/22/21: $75.55
ANS production (6/7/23): 467,698 bpd
The U.N. plastics negotiations are an oil story. Axios
The chart in the article shows 2022 IEA estimates of oil demand for plastics under existing policies, nations' climate pledges and a hypothetical path to net-zero emissions. Under any circumstances, you can see it's a lot of the oil in what's a roughly 100 million barrel per day market.
Cathy's question: Does this include the plastics used in polyester garment fabrics and construction materials such as carpets, paint, and wood flooring?
The renewable power surge and its discontents. Axios
Wind equipment manufacturing "may struggle to keep up with demand growth through 2030." Solar manufacturing growth is consistent with the agency's midcentury net-zero emissions pathway.
Cathy's question: The wind towers need lots of steel. Steel requires high heat/ energy to produce. Then there are the minerals needed in solar panels. How does this all pencil out as carbon neutral?
Could lithium mining trigger earthquakes? It's complicated. Governing
They wonder, could decades of drilling thousands of feet into the Earth's crust and pumping out boiling brine to make renewable energy be causing some of these quakes? And could drilling and testing in the area by companies rushing to extract lithium needed for electric vehicle batteries be increasing the risk?
New resources for battling the copper crunch. Axios
Celbo, a Chilean startup with tech to extract more copper from existing mines, raised $30 million in series B financing led by the prominent VC firm Energy Impact Partners.
Lobbying and fusion. Axios
The Energy Department is providing $46 million combined to eight startups for R&D and design work on fusion reactors. Why is matters: Fusion has been a remote promise for decades, heralding almost limitless power without dangerous waste from traditional fission reactors. Recent advances have made the prospect less far-fetched.
Russia betrays OPEC+ production cut agreement and raises crude shipments. Petroleum News
Just as Alaska North Slope crude was mounting a recovery from near $70 a barrel and closing on $80, Russia has been caught surreptitiously flooding the market with cheap seaborne crude, in direct violation of its agreements with the Organization of the Petroleum Exporting Countries and its allied exporting nations- of which Russia is part.
State Assessment Review Board partially approves Point Thompson valuation. Petroleum News
The Alaska State Assessment Review Board has partially supported the Alaska Department of Revenues 2023 property tax assessment for the Point Thompson unit while requiring adjustments in two areas. Revenues assessment of $1.25 billion was appealed by the North Slope Borough, which argued for an assessment of $3.24 billion.
Sidebar: Cook Inlet gas down 2.6%. Petroleum News
Natural gas production form Cook Inlet averaged 209.499 thousand cubic feet per day in April, down 5,569 mcf per day, 2.6%, from a March average of 215,068 mcf per day but up 1.8% from an April 2022 average of 205,786 mcf per day.
Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices. ADN
Saudi Arabia, the dominant producer in the OPEC oil cartel, was one of several members that agreed on a surprise cut of 1.16 million barrels per day in April. The kingdom's share was 500,000. That followed OPEC+ announcing in October that it would slash 2 million barrels per day, angering U.S. President Joe Biden by threatening higher gasoline prices a month before the midterm elections.
Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers. AP News
Saudi Arabia will reduce how much oil it sends to the global economy, taking a unliteral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher.
Embarking on a quest for cheap energy. ADN
In Alaska, the most recent entry in the "legacy" club is Bradley Lake- which, at less then 5 cents per kilowatt-hour, is now the cheapest source of power in the Railbelt. This contrasts markedly with the fact that it was the most expensive power on the grid when it first became operational in 1991, after five years of construction, and decades after it was first proposed.
Five cents per kilowatt-hour power: This goal was at the heart of the Sustainable Energy Conference last week in Anchorage. Director Holdmann's goal, if we can meet it (or even come close), would completely change, for the better, our state's entire economy. Her five takeaways are important and critical to achieve. Our focus for infrastructure spending should be on these projects which have been long-range impact for the future.
Permanent Fund 6/7/2023: $77,125,800,000
Value 9/30/22 : $70,625,300,300
Value 8/31/22 was: $73,670,500,000
Value 4/30/22 was: $81,387,500,000
Principle - $61.7B
$52.1 B savings, royalties, other deposits
$9.6 B unrealized gains
(special transfers from Legislature - $4 B in 2021; $4.943 B in 2020)
ERA - $12.6 B (was $16.9B May 2022)
$3.5 B set aside for FY24 POMV
$4.2 B for FY23 Inflation Proofing
$ 2.2 B unrealized gains
$4.0 B uncommitted realized earnings
PFD payout from ERA, 1980-2022: $26.6 B
Mineral Prices
June 7, 2023
Gold - $1939.60
Silver - $23.41
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