Rachel Waldholz, Alaska’s Energy Desk

Moody’s Investors Service has downgraded Alaska’s credit rating for the second time in six months, citing the state’s massive budget deficit. It’s the fourth time since January the state has been downgraded by one of the three major ratings agencies.

“At first blush it does appear the federal government is creating additional cumbersome regulations that will make it more challenging to entice companies back to the Arctic when oil prices rebound,” said an Alaska Oil and Gas Association representative.

Rachel Mills went from being a botanist for an oil and gas contractor, to managing Urban Greens. She’s part of a wave of Alaskans who have lost work in the last year, as the state has seen its first real dip in jobs in nearly three decades.