Another update this morning — JKT's campaign gave me a list of events they're confirmed for, and the Alaska Power Association is hosting a governor debate on Oct. 2, with two of four candidates confirmed so far. #akleg #Alaska

This Wk's Top 3 P'cast | Why “incentives” should be treated as spending, the Alaska Beacon misses the story on where the K-12 supplemental really comes from & the federal effort to streamline NPRA permitting is a good thing. #akleg buff.ly/zTHsP8D

Alaskan port cities deserve at least the same. #akleg

The 8:35a Chart| Given the importance of Permanent Fund returns to #AKrev levels, we have developed a second morning chart comparing the S&P 500 5-, 3- & 1-yr returns to the PFC's. #akleg

* 5-yr: S&P 12.83% v PFC 6.27%
* 3-yr: S&P 21.00% v PFC 9.20%
* 1-yr: S&P 17.59% v PFC 11.36%

The 8:30a Chart| To provide context to current $$oil, we publish daily (ex-Su) a running avg of FY27-34 $$ANS, Brent & WTI actual+futures. Projected ANS v. SPRING26 rev F'cast:

> FY27 ⬆️ $20 (+$962mil)
> FY28-34 ⬆️ $2 (avg annual +$65mil)
#akleg

One of the things in the back of my mind has been the budgetary challenge that Alaska's next governor will face. The Iran war is reducing that challenge, with almost $350 million deposited into savings in FY26, and more possible in FY27. #akleg #Alaska

Sept. 11, 2001, I was 26 & living in Tallinn, Estonia. I was about to teach an English class. The room was somber when I walked in. A woman said, “We are so sorry about what is happening in your country,” and everyone started crying. The tragedy was felt around the world. #NeverForget #akleg

#Alaska Here's another Governor who was once an educator. What the heck, Mike Dunleavy?
#akleg

Here's a gift link: www.wsj.com/us-news/alas... #akleg #Alaska

The University of Alaska Anchorage still has no booking from President Trump, a university official said today. Trump said last week that he would come to Alaska and campaign for Sen. Dan Sullivan before the general election. Trump used UAA for a 2022 campaign rally. #akleg

It's appropriate that Chugach's CEO is Arthur Miller, because Southcentral Alaska energy is really in a crucible. #akleg

The Wednesday Chart| To help better understand the primary market for ANS, we look at the supply to USWC refiners each Wed:

YTD 2026 avg USWC (approx % of pre (2019)- and post (2022)-COVID levels):
> Crude demand: 82% & 90%;
> Domestic share: 84% & 97%.
#akleg

Latest update — a forum scheduled on Sept. 16, with three of the four governor candidates confirmed. #akleg #Alaska

Judge Sharon Gleason will hear oral arguments at 1 p.m. Oct. 29 on whether or not seismic oil/gas surveying can go ahead this winter in the coastal plain of the Arctic National Wildlife Refuge. Gleason has already said she intends to rule by Nov. 20 to allow time for winter work. #akleg #Alaska

Chatbots run much cooler than markets on Kreiss Tomkins for Alaska governor

https://votingmonitor.org/races/AK-GOV #akleg

The 8:35a Chart| Given the importance of Permanent Fund returns to #AKrev levels, we have developed a second morning chart comparing the S&P 500 5-, 3- & 1-yr returns to the PFC's. #akleg

* 5-yr: S&P 12.79% v PFC 6.27%
* 3-yr: S&P 21.24% v PFC 9.20%
* 1-yr: S&P 18.62% v PFC 11.36%

A barrel of North Slope crude is back above $100 for the first time since June, and the split between Brent and ANS crude has all but vanished. In July, ANS was selling for as much as $13 less than a comparable barrel of Brent. That's important for the state budget. #akleg #Alaska

Valerie Casler’s bravery led to the conviction & imprisonment of a man who was murdering women in Anchorage (Kathleen Jo Henry & Veronica Abouchuk). Valerie stole a cell phone that had a video of a murder, turned it in, & was a witness at the trial. Thanks to her efforts, lives were saved. #akleg

The 8:30a Chart| To provide context to current $$oil, we publish daily (ex-Su) a running avg of FY27-34 $$ANS, Brent & WTI actual+futures. Projected ANS v. SPRING26 rev F'cast:

> FY27 ⬆️ $16 (+$770mil)
> FY28-34 ⬆️ $2 (avg annual +$62mil)
#akleg

The Thursday Charts| We publish two charts Thursdays. #akleg

Using the prior yr's production profile as a baseline, the first charts YTD production levels compared w/the most recent F'cast (now SPRING26). W/ 19% of FY27 done, YTD avg (red) running -22kbd (-5%) v. F'cast.

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