Pipeline Special Session, AGDC Board Meeting, Budget Vetoes, and lots more!

Senate Majority Bipartisan Coalition Website

State Senator District E

Senate Majority Leader

Senator Cathy Giessel Newsletter

UPDATES

Issues affecting

your family, community and jobs.

June 25, 2026

Dear Friends and Neighbors,

Photo: Rhododendron in Juneau, outside the Capitol building.

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Addendum (at the beginning!) - I just saw the Governor's budget vetoes at 4:55 pm Wednesday. See section below for those links.

These vetoes further extend his Administrative-long focus on cutting services for children and families. Veto of education, foster care, mental health grants. A few years ago he touted himself as making Alaska “family friendly”. Since then he’s forgotten that. Its disappointing to see these cuts to services that matter for kids and families when oil prices have been high and the budget balanced that included these family supportive services.

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Thank you to all of you who have responded to these newsletters.

Yes, even those of you who told me I was wrong.

That tells me that you read the information.

That’s my goal – provide facts.

At the end of the day, decisions are yours to make.

Maybe you went to a rally, ate free food, got a pin to wear that says something like “build the line”, and now you embrace that statement.

I’m hoping that you might ask – who paid for that food, pin, event?

You might wonder why whoever paid for that is trying to lure you to support a corporate deal that you haven’t seen.

I have often said that we need to slow down this process and really understand what Alaska is agreeing to.

Here is the June 18, 2026 FERC, Status Update from AGDC/Glenfarne (8 Star Alaska, LLC).

You will see that many things still must be done before the trench is dug to weld and bury 42-inch pipeline.

The Statue Update says Glenfarne/AGDC will start constructing man camps and other activities this summer - without the AVT in place!

It seems clear that they don't need the tax break to proceed!

AGDC has stated that they do not yet have all the Right-of-Way for the pipeline. They stated that they may need to implement eminent domain to seize the property from owners (private, state, native corporation lands).

THIRD Special Session - Day 6

Gas Pipeline is the only topic.

Why a THIRD SS? The Governor didn't like the changes that the Senate made in the policy.

Items Governor listed as bad for Glenfarne, LLC and the project:

· S-corporation tax, proposed in the Gas Pipeline bill, would begin the tax at NET Profits of $1-2 Million, tax of 5% of profits; $2-3 Million: 6% tax; $3-4 Million: 7% tax; $4-5 Million 8% tax; more than $5 Million: 9.4% tax. It will apply to all companies who produce or transport oil or gas.

· Glenfarne complains that the tax is "poorly written and can't be applied". Our Dept of Revenue has stated that the tax has been anticipated for several years and State Tax Division can apply it as written.

· Union contracts honoring project labor agreement, prevailing wage, and apprenticeship utilization requirements

· Inflation in the pipeline taxes would be EQUAL to the inflation rate in the cost of gas paid by Alaskans would pay. Original version from the Governor had Alaskans paying FULL INFLATION, while Glenfarne's taxes were half of that inflation rate.

· Prohibit Alaskans paying Glenfarne back for FAILURE OR ABANDONING THE PROJECT.

· Prohibit Alaskans paying for Glenfarne's COST OVERRUNS on the project.

· Prohibit Glenfarne entering into a legal relationship with a foreign entity, either directly or indirectly through another person or entity without notifying the Legislature.

The Governor is advocating that corporate interests should prevail.

This project needs much more scrutiny and real negotiation by the State of Alaska (on behalf of the Alaska consumer and property tax payer).

Anchorage homeowners pay high taxes; they will only go higher.

I will note that Glenfarne recently agreed to pay Anchorage $50 Million (outside of the Legislature) for impact costs. Interesting "side deal" in response to Senate amendments.

When the Senate President and House Speaker asked the Governor to meet on Saturday to find solutions, he was already on a plane leaving Alaska.

Governor Dunleavy has been absent nearly the entire year so far. He rejects the work done in hearings and discussions, but has no idea what is in the bill he rejects (his own admission in his press conference on Friday, June 19)

The Senate President and House Speaker appointed a conference committee of 6 to write a new bill.

The members are:

Sen. Hoffman (Bethel)

Sen. Stedman (Sitka)

Sen. Cronk (Interior villages, part of Fairbanks)

Rep. Edgmon (Dillingham)

Rep. Ruffridge (Soldotna)

Rep. Schrage (Anchorage)

You can see that only half the committee members represent areas impacted by this pipeline. And no women.

The first meeting of the Conference Committee will be Friday, June 26, at 2 PM in Juneau. Streaming is at AKLEG.GOV (under "Live Now" tab)

Items in this Newsletter:

· AGDC Board Meeting - June 25, 1 PM, link to meeting

· Vetoed Bills and Governor Reasons

· Budget Vetoes - Operating, Mental Health, Capital

· Special Session media reports

· Grizzly Woods - Plastic Recycling

· Oil and Gas Pipeline Topics with Current Topics, Stuff I Found Interesting, Education, Politics, Healthcare

· Resource Values, Permanent Fund Data

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Past Newsletters

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Alaska Gasline Development Corporation Board Meeting

Announcement

June 25, 1 PM

AGDC Board meeting this Thursday June 25th. Below is information on how to participate via zoom or dial in.

This meeting will start at 1:00pm on Thursday, June 25, and is virtual meeting.

Board Meeting Schedule

The Alaska Gasline Development Corporation (AGDC) BOARD OF DIRECTORS will meet telephonically/virtually on June 25, 2026.

The time of the meeting will be 1:00 PM.

The public is invited to attend telephonically or virtually using the following:

Join from PC, Mac, iPad, or Android: https://us06web.zoom.us/j/85409616484

Dial-in Only Information

Phone: +1-253-215-8782 or +1-669-900-6833

Webinar ID: 854 0961 6484a

Contact Person:

Mary Siroky | Budget Coordinator | Alaska Gasline Development Corporation | T +1 907.321.0550 |msiroky@agdc.us

VETOED BILLS

Here are 9 of the Vetoed Bills

Link with Governor's Reason for the Veto

Override Votes needed - 40

We didn't attempt to override all of the bills. There was a time constraint, so only those 5 which originally had 40 or more vote to pass were chosen for override.

You can see that 3 of the 5 bills had more than 40 votes but when Governor vetoed, Republicans refused to override the veto.

SB 21 Work & Save Program (passed Legislature 48-2)

(Override vote: 39-21 - Failed to override)

HB 23 Human Rights Commission (passed Legislature unanimously)

SB 24 Tobacco, electronic smoking products, nicotine-raise minimum age (passed 39-21)

SB 41 Mental Health Education (passed 44-6)

(Overrride vote: 38-22 - Failed to override)

HB 52 Alaska Children treatment in psychiatric hospitals (passed Legislature 46-4)

(Override vote: 36-24 - Failed to override)

HB 195 Pharmacy Patient Services/Physician Associate (passed 47-3)

(Override vote: 43-17 - Override Successful)

HB 280 Multistate Tax Compact (passed 39-20)

SB 258 Licensing of software applications (passed 45-13)

HB 314 Registered Interior Designers (passed 45 - 5)

(Override vote: 43-17 - Override Successful)

Governor Budget Vetoes

June 24

Operating, Mental Health, Capital

Details at Office of Management and Budget website

Veto summary is a spreadsheet with each item

Veto Backup gives "reason" for the veto.

Most of the reasons claim: "Preserve general fund resources to support long-term fiscal stability".

The budget was balanced. There was no overspending. The vetoed items in the budget would have supported education of our kids, sustained mental health services, provided family services.

Grizzly Wood is open to take plastics

Drop-off Hours: Monday through Saturday 8:30 a.m. – 3:30 p.m.

Drop-off Address: Materials Recycling Facility, E 56th Ave, Across from the Central Transfer Station.

Accepted plastics: #1 (PET), #2 (HDPE), and #5 (PP).

Please note: We no longer accept plastic bags or #4 plastics.

Collections will be Open through October 31, 2026.

Cost to enter Materials Recycling Facility - $5.00

Grizzly Wood website

Special Session

Alaska lawmakers seek gas pipeline tax compromise as another special session begins. Alaska Public Media

Second special session on gasline opens with move to send bill to six-member House-Senate committee Juneau Independent

The Alaska Legislature kicked off its second consecutive special session on Saturday, a day after Gov. Mike Dunleavy and key members of the House said the Senate’s version of a bill offering tax relief to the Alaska LNG project was unworkable. Key changes on the Senate floor included an amendment specifying how the project would use union labor and a long-sought change to Alaska’s corporate tax code that would subject oil and gas pass-through entities, including S corporations and LLCs, to pay income taxes. Shortly after convening Saturday, leaders of the House and Senate appointed a conference committee to work out a final draft.

Gov. Dunleavy vetoed 9 popular bills. Why did Alaska lawmakers override only 2 of them? Anchorage Daily News

Eighteen minority Republican lawmakers who previously supported some or all of the vetoed bills flipped their position. It’s not uncommon for lawmakers to change their position on legislation as it is considered and amended during hearings and debates. But the flurry of override votes left some wondering: Is this a matter of a fresh perspective, or political pressure?

(My comment: No, there is no “fresh perspective”. The Republican Minority votes are controlled by the Republican Party and Republican Governor.)

Bill to protect youth in psychiatric hospitals dies after Dunleavy veto AK Pub Media

A bill that passed the state legislature with near unanimous support, and would have required more state oversight of children in psychiatric facilities, won’t become law. Gov. Mike Dunleavy vetoed the bill June 18 and lawmakers didn’t have the votes to override his decision.

(My comment: Dunleavy has said that he had concerns about the details of the many bills he vetoed. This bill would havd protected children from physical and chemical restraints and prohibitions on contact with family. i wondered what could concern Dunleavy about this bill.)

With All Due Respect?

Podcast: The Pipeline Gospel According to Andrew

June 24, 2026, 10:33 mins

Andrew shares his opinion about how this deal was put in motion and who stands to gain from all this mythical "momentum".

Podcast: Glenfarne: International Men of Mystery

June 22, 2026 21:29 mins

Andrew and Ethan discuss the foreign interests behind Glenfarne and what it means if anything.

Oil and Gas Pipeline Topics

Alaska lawmakers seek gas pipeline tax compromise as another special session begins. Alaska Public Media

Second special session on gasline opens with move to send bill to six-member House-Senate committee Juneau Independent

Alaska’s gasline tax discount coupon needs an expiration date Alaska Beacon

The political fight isn’t so much whether tax relief is a valid incentive for the state to offer, but how much of a discount the state should offer and when it should expire. The House version of the tax bill contains no expiration date. The Senate version says the coupon goes away if the developer does not start moving gas through the pipeline by Dec. 31, 2032. The governor’s proposal gives Glenfarne more than a decade to put the pipeline into operation, Jan. 1, 2037.

Moving to production Petroleum News

Asked about concerns Great Bear Pantheon has about the proposed bill, Galvin said it doesn't have an effect on the company, other than a concern that the bill allows the project to go forward.

(My comment: Reminder – this is the company that offered the gas for “free” to Glenfarne. That means no royalty for the State; this is why the Senate added requirement for the Dept of Natural Resources to establish a prevailing value for our gas.)

Glenfarne, Chugach Electric sign LOI for gas from Alaska LNG line Petroleum News

On June 15, Glenfarne Group LLC subsidiary Glenfarne Alaska LNG LLC announced that the company signed a Letter of Intent with Chugach Electric Association for the supply of natural gas from the Alaska LNG pipeline.

(My comment: Note that this is ‘non-binding’ agreement.)

20 years ago this month: Governor's gas bills drop Petroleum News

This story first appeared in the June 4, 2006, issue of Petroleum News. While the administration of Alaska Gov. Frank Murkowski continues with public hearings around the state on the proposed gas pipeline fiscal contract it negotiated with the North Slope project sponsors - BP, ConocoPhillips and ExxonMobil - it also sent three bills related to the gas pipeline contract to the special session of the Legislature. On the same day, May 31, 2006, the Senate passed a resolution setting up a Special Committee on Natural Gas Development, consisting of the members of the Finance and Resources committees, to consider the con-tract and related legislation, including oil and gas taxation.

(My comment: Note that an expansive special committee was established, with broad knowledge of the subject. This story doesn’t extend to the end of the issue but after all the deliberation…the Legislature rejected Gov. Murkowski’s plan.)

Oil lobby's new post-Iran priorities Axios

Upgrading the Strategic Petroleum Reserve. API head Mike Sommers says it's engineered for a bygone era, and needs better connections to major producing basins, and that it should be able to release oil at higher volumes.

Changing the Jones Act process. Reminder: the law requires U.S.-built and crewed ships to move fuel between domestic ports. The waiver process — which the White House used during the crisis — should be clearer and easier to implement, he said.

Boosting Western Hemisphere supply lines. There's space for more trade, investment, and diplomatic initiatives to move oil around as production grows in regions including Guyana and Venezuela, API argues.

Expanding Middle East routes. Another idea is greater U.S. support via its development finance agencies for expanded pipeline networks to reduce reliance on the strait.

Opinion: What 47 years without a gas line tells Alaska Anchorage Daily News

But protection cannot mean paralysis. Time is the adversary, not the developer. Glenfarne has to decide this fall whether to commit. Every new demand drains the momentum the project needs to move ahead with investors and buyers. The more friction we add, the greater the risk we stall the project past the point of saving it.

Current Topics

House leaders search for answers on state decision to remove Dan Sullivan challenger from ballot. Alaska News Source

Rare legislative subpoena issued on removal of Dan J. Sullivan from Alaska ballot Anchorage Daily News

Alaska legislators probe decision to remove candidate from the ballot Alaska Beacon

Alaska House lawmakers held a legislative committee hearing Monday in search of answers regarding a much-publicized decision by the state to remove a U.S. Senate candidate from the August primary ballot.

Namesake Sullivan challenger sues to be reinstated on Alaska’s U.S. Senate primary ballot Anchorage Daily News

Petersburg’s Dan Sullivan sues Alaska Division of Elections after being removed from U.S. Senate ballot. Alaska Public Media

A namesake challenger to Alaska’s incumbent U.S. senator is appealing a decision to remove him from the state’s Aug. 18 primary ballot, according to a filing submitted to the Anchorage Superior Court.

Alaska judge agrees to fast-track challenge by namesake Sullivan opponent in lawsuit of ‘great public interest’ Anchorage Daily News

Dan Sullivan candidate appeal likely to go to Alaska Supreme Court, with one week until ballot deadline. Juneau Independent

Alaska judge orders emergency hearing in ballot fight involving two Dan Sullivans. Alaska News Source

An Anchorage Superior Court judge on Tuesday agreed to expedite a lawsuit whose outcome will determine whether the namesake challenger of U.S. Sen. Dan Sullivan will appear on the state’s Aug. 18 primary ballot.

Arctic

Australia, Canada Sign $2.5 Billion Arctic Radar Deal as Ottawa Accelerates NORAD Modernization High North News

Canada and Australia have signed a A$2.5 billion ($1.75 billion) deal for an Arctic over-the-horizon radar system, a cornerstone of Ottawa’s NORAD modernization plans as Western allies expand surveillance capabilities amid growing strategic competition in the Arctic.

Construction Starts on First Arctic Security Cutter in Finland, Marking Major Expansion of U.S. Icebreaking Fleet gCaptain

Construction of the first Arctic Security Cutter (ASC) for the U.S. Coast Guard began on Tuesday at Sata Shipbuilding’s yard in Pori, Finland, marking the start of a shipbuilding program that could ultimately transform the service into one of the world’s most capable Arctic maritime forces. The vessel is the first of 11 Arctic Security Cutters authorized and contracted by the United States under two separate procurement programs led by Bollinger Shipyards and Canada’s Davie.

Education

Alaska Supreme Court rejects state petition to take up Fairbanks charter school dispute Alaska Beacon

The Supreme Court denied an emergency petition on Monday filed by the state and a charter school group to overturn a lower court’s decision and force the district to open the Pearl Creek STEAM charter school. Charter group advocates now say it is unlikely the contested school will open in August. In a rare move, the Alaska Acting Attorney General Cori Mills petitioned the high court last week on behalf of the charter group to overturn the state court’s decision.

Healthcare

State advances over four hundred projects in bid for Rural Health Transformation Program funding Alaska Public Media

The state of Alaska has advanced more than 400 projects to the next step in its grant application process for the Rural Health Transformation Program. That’s a federal program to strengthen the state's rural health infrastructure, as the country faces huge cuts and eligibility changes to federal healthcare programs.

Politics

With Murkowski's help, Senate votes to restrain Trump’s power to wage war on Iran AK Pub Media

The U.S. Senate voted Tuesday to curtail President Trump's use of military force, telling him to cease hostilities against Iran unless Congress explicitly authorizes it. Sen. Lisa Murkowski was among four Republicans who voted with Democrats to pass the resolution, 50-48. Sen. Dan Sullivan and Rep. Nick Begich voted with the majority of Republicans in Congress against the measure.

Alaska Resource Values

Alaska North Slope crude oil price (06/24/2026): $87.83

FY26 budget (beginning 7/1/25) is fully funded at

$64/barrel of oil.

History of prices:

3/23/2026: $101.05 (Iran War)

12/17/25: $60.06

9/20/24: $63.63

9/30/23: $87.99

9/30/22: $86.91

6/29/22: $116.84

3/08/22: $125.44

12/22/21: $75.55

March 2020: $12.29 (COVID)

7/3/2008: $144.00

ANS production (6/22/26):441,789 bpd

Henry Hub GAS PRICE (06/24/2026): $3.25 MMBTU

Cook Inlet GAS Prevailing Value (2026 Q2): $8.73 ($ per MCF)

Precious Metal Prices

June 24, 2026

Gold - $3997.60

Silver - $57.83

Platinum - $1571.20

Copper - $5.96

Palladium - $1184.50

Rhodium - $7850.00

Alaska Permanent Fund

website

How is the Fund invested? Alaska Senate Finance Committee, presenters: Callan, Investment Advisors. Callan said that APF is "one of the best run portfolios among our clients".

February 25, 2026 Link to meeting. Meeting Notes.