Special Conversation: Cliff Groh on the Alaska Economy During COVID-19

Crude Conversations

crudemag

Society & Culture

4.9 • 152 Ratings

🗓️ 10 May 2020

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this Special Conversation, Cody talks with Cliff Groh about Alaska's economy during COVID-19. Cliff is a former Alaska Revenue Department official and longtime advocate for the Permanent Fund Dividend, and a board member of Alaska Common Ground, a non-profit that focuses on Alaska’s public policy issues.

Transcript

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0:00.0	The I'm a board member of Alaska and the former chair. I have been
0:28.3	researching since COVID-19 hit. I've spent some time doing that the effects of COVID-19 both on our state, the state of Alaska's
0:41.0	fiscal system and also on its economy.
0:45.0	So the other day on the phone you told me that you had just finished giving two presentations about Alaska's economy after COVID-19.
0:55.2	How would you describe the current state of Alaska's economy?
0:59.6	Well, I think there are three answers. There's the super bad, the bad, and a few potential
1:08.4	bright spots. Okay, can we get into that? Absolutely.
1:13.0	The super bad includes oil and tourism.
1:16.0	Oil is just gotten, a kid really hard and tourism has been hammered as well,
1:22.0	and I can walk hammered as well.
1:23.0	And I can walk through some details if you'd like, Cody.
1:26.0	Yeah, that'd be great.
1:28.0	Yeah.
1:29.0	So to start out, oil is just being just pummeled globally. COVID-19 has slashed demand and thus prices to blow $20 a barrel,
1:42.3	the most recent prices I saw I posted for yesterday for Alaska or
1:45.8	smoke crude and that's very low compared to what they have been in recent years.
1:53.2	And some people thought sort of an agile or just really bad, really low.
1:58.4	In addition to the problem that COVID-19 has created for demand. The real basic reason that the way COVID-19, the coronavirus
2:08.7	pandemic has reduced to oil prices, it's reduced demand me if people are not driving much if they're not if
2:16.8	they don't have jobs or have reduced hours of their jobs or afraid to go to
2:21.0	coffee shops restaurants or theaters or are order not to do so by the government,
2:26.0	they're going to drive less.
	...

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