Tag Archives: Alaska economy
Oil, Fishing, Tourism: Alaska Economy Faces Triple Hit from Coronavirus
The U.S. state of Alaska is so far distant from the worst medical ravages of the coronavirus pandemic, but its economy is in critical condition. Alaska is especially vulnerable because it depends on oil, tourism and fisheries – basic industries that are reeling from the global coronavirus pandemic – and the state government gets most of its revenue from investment earnings that have now evaporated. “Alaska is experiencing a perfect storm, a most terrible trifecta, the hat trick from hell,” said state Senator Natasha von Imhof, co-chair of the Senate Finance Committee, at a hearing Saturday. “We are being hit on all sides with the stock market crash, oil prices plummeting and the tourism and fishing season all but idle.” >click to read< 09:04
Coronavirus: Perfect storm?
What no one could foresee when the sun rose in Utqiagvik (formerly Barrow) on Jan. 23 and everything seemed so normal was that the planet was already hurtling toward a global economic slowdown with possibly devastating repercussions for a fragile, Alaska economy dependent on oil, tourism, fisheries and the state Permanent Fund – all now suffering the fallout from the consequences of an invisible, contagious and too-often-deadly pathogen. A month before that sunrise, with Utqiagvik still cloaked in darkness, a new coronavirus spawned no one knows exactly where was already spreading in Wuhan, China far to the south and west. more, >click to read< 15:09
