"oil"

With oil dipping ominously below $30 a barrel, Alaska faces a deficit of at least $3.5 billion — or two-thirds the general fund budget.

The Canadian company that had been pushing for approval to build the project is asking for a timeout in the review process. Here’s what you should know.

With a majority of state revenue coming from oil, Alaska has been hit hard not only by plummeting oil prices but by declining production.

The letter covers a lot of ground — outlining the need to develop a deep-draft port above the Arctic Circle and advocating sharing federal revenue from offshore oil drilling with local residents.

“I feel pretty strongly that the way to look at this topic is through science, and I just find it super disappointing that so many people chose to ignore or dismiss solid science,” said one protestor.

The company has until late September to complete this summer’s exploratory drilling.