Alaska Division of Geological & Geophysical Surveys Annual Report, 2014

Organization: 

Publication Year: 

2014

Abstract: 

Recently falling commodity prices have brought the state’s reliance on revenue from natural resources to the forefront. Alaska is not immune to national and world events and market changes. Many global commodity prices have fallen from peak values in the recent past to multi-year lows. Recent success around the nation in unconventional oil and gas development, a product of high commodity prices, led to domestic gluts of these commodities and factored into subsequent depressed prices. We can expect this situation to persist until the demand–supply relationship is reset at this new supply level. Low commodity prices can challenge the resolve to keep moving forward and exploring today for the resources of tomorrow. New explorers coming to Alaska depend on publicly available data to come up to speed quickly and make informed decisions. Increasing the data available to all explorers reduces exploration costs, making Alaska more competitive. Alaska cannot afford to stop exploring for tomorrow’s resources; to do so means that we will not be appropriately positioned once global commodity prices rebound.

Document Type: 

  • Report

Tags: 

  • critical issues, database publication, energy, mineral resources, geology, volcano, alaska