Video Clips

Quoted moments from Alaska public meetings, hearings, and press conferences.

Speaker A

“while the large railroads are attempting to find any avenue they can to skew the message on my amendment. Two-person crews are already the standard across all major railroads in America. There is $0 impact to their expenses and $0 impact to their bottom line.”

House: H.R. 8870, Building Unrivaled Infrastructure and Long-term Development for America's 250th Act (BUILD America 250 Act); and other matters cleared for consideration · May 21, 2026

Speaker A

“Since the Norfolk Southern derailment in East Palestine, Ohio, in 2023, nearly 3.5 years ago, this committee has not considered rail safety legislation until today.”

House: H.R. 8870, Building Unrivaled Infrastructure and Long-term Development for America's 250th Act (BUILD America 250 Act); and other matters cleared for consideration · May 21, 2026

Keeton

“that area of Inlet Woods is blowing up. There's so many people there and it's getting bigger. Almost seems like every day you drive through there, there's more foundations going in. Um, starting that kind of a trend now, I think, is important so that people understand that It's a working family neighborhood, and there are people and children that need to be to sleep at a certain time”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Dothit

“I know we've done these in the past and can quiet hours being on the actual conditional permit as a stipulation. I know you've attested to being new to that, so I would just like to add that, um, to that 10 to 6 like you had granted. You're already going to have it, it's in your regulations, but that way it's on our actual permit also.”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Dothit

“I would just like to see I didn't see it in the application specifically as part of rule. You said you would have the quiet hours. Is this something— I didn't see it in there, maybe mistake through the staff.”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Keeton

“passed as amended”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Dothit

“this is kind of a standard thing that we've done on multiple other short-term rental. This is a conditional use permit. It's substandard to the actual regular neighborhood, and so if we don't put it in now, it's nearly impossible to do it later.”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Speaker B

“I'd like to call for a vote on the amendment to PZ. 2026-10 For adding the quiet hours of, uh, yes, sir, 10:00 PM to 6:00 AM.”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Butner

“the city itself does not have a, a noise ordinance or quiet hours. Um, it's generally self, um, what, self-enforced. Uh, so it could be in the CC&Rs. I haven't seen anything in that neighborhood. Um, we, again, the city couldn't enforce it, but if it is in the conditional use permit, then that would allow us to”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Fikes

“we were just trying to add some teeth to it. In the event that we have a negative impact on the neighborhood, we didn't really have a means for law enforcement to go out and respond and have a tool. So this was an idea during discussion to give them that tool.”

5/27/2026 Planning & Zoning Commission Regular Meeting · May 27, 2026

Matt Kissinger

“The next highest that they had identified being Cove Point, Maryland, that had about $50 million a year. I think LNG Canada has around $27 million per year, and if you just go by statute, this project could be well over $800 million a year.”

HFIN-260527-1330 · May 27, 2026

Matt Kissinger

“If you look at Canada versus Alaska, they have It's a fairly well-known resource, but it's an undeveloped resource that requires drilling and development through the life of those projects. It's the Montney and the Horn Rivers, tight, tight oil and gas up in northern BC and Alberta. They have the pipeline that had to go over the coastal range. We get to avoid the coastal range.”

HFIN-260527-1330 · May 27, 2026

Frank Richards

“the cost estimate level for the gas treatment plant and the liquefaction are currently a Class 4. And so, as I started off, you know, we were at $44 billion, we reduced it to $38 billion in 2020. And what AGDC did is we had engaged with Fluor as essentially our owner's engineer over the years, and we asked Fluor to keep up with the cost and we would recast that cost estimate”

HFIN-260527-1330 · May 27, 2026

Will Stapp

“Obviously, kind of begs the question, if you have 3 studies identifying that property taxes were a big issue in the project, the bill to restructure property taxes in Alaska in the project didn't come before the legislature, I want to say, until nearly the end of March. So obviously here we are in special session given the time constraints. And I'm just curious if you guys knew about this for so long, why wasn't at least a skeleton structure presented for us last year or year before or year before that?”

HFIN-260527-1330 · May 27, 2026

Matt Kissinger

“And you see that aside from capital cost, the property tax is the largest single impact on this project.”

HFIN-260527-1330 · May 27, 2026

Frank Richards

“it's really around the property property tax and how we are, you know, far out of our field compared to our competition in other portions of the world. So we wanted to bring this back just to really identify that property tax is an issue within the state of Alaska for this project because, again, it's not an oil project. This is a natural gas project. And so the margins are much smaller than an oil project.”

HFIN-260527-1330 · May 27, 2026

Matt Kissinger

“We had them come in and compare it with every other jurisdiction, especially around the U.S., Canada, but also some overseas jurisdictions. And what they found was that our property tax in Alaska, the way it's structured, assured would result in property taxes a whole order of magnitude, so kind of 10 times higher than the next highest.”

HFIN-260527-1330 · May 27, 2026

Matt Kissinger

“3 of them really stood out. The first one was what we called state and federal support, such as the loan guarantees, but really it was focused on the loan guarantees. The second one was an even lower gas price, which we have continued to negotiate a lower and lower gas price with the producers. And then finally, even back then, we identified that property taxes were one of the biggest triggers that you could pull.”

HFIN-260527-1330 · May 27, 2026

Matt Kissinger

“you can also see that the provinces and Canada made necessary concessions to put that over the line, and it benchmarks well with other projects that have moved forward with respect to property tax and corporate tax.”

HFIN-260527-1330 · May 27, 2026

Matt Kissinger

“I would suspect— I would expect that any contract going in front of the RCA for utility sales in Alaska would look very different with or without the changes to property tax. Simply because it's more than— it's well over $2 impact per MMBTU, which is the unit of measure that is normally sold in. And so I don't believe that they could just simply absorb it.”

HFIN-260527-1330 · May 27, 2026

Andy Josephson

“when we talked to our consultant, Mr. Fulford, yesterday, he didn't suggest that, that, uh, the contract covered price. That was an imperative feature on his slide deck, I think taken from DOR, showing these heat charts where we had to be in the top left corner to reach or come under that $10.41 cost at delivery.”

HFIN-260527-1330 · May 27, 2026

Matt Kissinger

“In 2016, they brought in Wood Mackenzie, and they asked Wood Mackenzie to do a competitiveness analysis of the project. And Wood Mackenzie said that the project ranked poorly in terms of competitiveness. And they recommended that we adopt a debt-funded third-party tolling structure rather than what would normally be your IOC, your International Oil Company balance sheet financed project.”

HFIN-260527-1330 · May 27, 2026

Speaker C

“Julia is exactly the kind of leader Alaska needs now. She's the leader I want to stand by my side. I'm incredibly proud to have her willing to take this stand, not just with me, but for you. Without further ado, please join me in welcoming the next Lieutenant Governor of the State of Alaska, Julia Nelson.”

Facebook video: Begich-Hnilicka announcement · May 27, 2026

Speaker C

“She knows how to bring people together. She knows how this state will work best. And that is exactly what I need as part— when it comes to this She knows that public servants are supposed to work for you.”

Facebook video: Begich-Hnilicka announcement · May 27, 2026

Speaker C

“She cares deeply about rural Alaska, about Alaska Native communities. She cares whether young people can afford to stay here. And whether they can build a future.”

Facebook video: Begich-Hnilicka announcement · May 27, 2026

Bert Stedman

“when we look at the Alaska corporate income tax rate, then could it be looked at an incentive to be a Subchapter S and not pay that?”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“as you consider the tax arrangements for AKLNG, whether it be property tax or something different, a lot of these international investors will be looking at which is the most favorable tax rate, tax environment to operate in”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“one of the key features for Alaska is that when you look at that delivered cost to Asia, it's going to have to be roughly the same or slightly less than that U.S. Gulf Coast marginal price”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“tax rates on the midstream in the absence of income tax and other features would appear to be relatively light in Alaska without some kind of additional property tax or volumetric tax”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“within within the usual sort of constraints around confidentiality, that the BC government were able to see pretty well every detail of the economics of the project before they made those concessions”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“these tax concessions have been offered for Canada and that it represents a competitive framework to consider”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“the first thing that happened was that the LNG project tax was revealed— repealed. Then in the run-up to FID, the depreciation mechanisms were accelerated by the federal government. There was a complete deferment of sales tax on the project while it was being built. So it wasn't a tax holiday, but it was a deferment of the nominal tax for 20 years.”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“when it comes to investment in LNG, you do have some very active and potentially competing projects just to the south, and, and that is probably going to be one of your considerations as you legislate around the project here in Alaska”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“My favorite one to start with in the context of AK LNG is the Xyla Shims project, which is potentially a 12 million ton floating LNG project. Literally just a few hundred yards from the Alaskan border. And as it says on the slide there, as the crow flies, it's about 60 miles from Ketchikan.”

SFIN-20260527-1330 · May 27, 2026

Bert Stedman

“one of the things, Mr. Chairman, we might want to think about is this issue of the rapid depreciation of the infrastructure and the incentive that brings to the table. And as I recall, Ronald Reagan did that to the real estate markets back when he was president and lit the real estate market, turned it around, lit it on fire”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“the CO2 tax was also reduced quite substantially. It wasn't eliminated, but ultimately, as you can see on this slide, the, the final part in that kind of fiscal package was a natural gas credit which was applied to corporate income tax, provincial corporate income tax. So that, that reduced the provincial corporate income tax effectively from 12% to 9%, leaving a net 24% tax rate. So obviously if you compare that with the corporate and— sorry, the, the federal and state corporate income tax here, because federal tax is allowable, it comes to 28.4%”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“the optionality that would follow from S corp status and, and not having an obligation to pay corporate income tax in Alaska. Obviously that provides value to a potential investor”

SFIN-20260527-1330 · May 27, 2026

Bert Stedman

“when we look at the midstream, which is the gas line, they pay a corporate income tax. There's Subchapter S, there's there is no corporate income tax, no tax in the state, and that's it, along with property tax.”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“it was really when the federal government decided that exports of LNG into the Pacific were a kind of a national— were of national importance, that they collaborated with the provincial government at a level which I think has never been seen before. So it became a kind of a three-way negotiation between the project developers, the provincial government, and the federal government. And that all came to a head in March 2018, and I would describe it as the last piece in the jigsaw which then enabled FID to be taken in October 2018.”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“the legislature at the time, they were kind of looking at landed LNG prices in Japan, which probably about $15, $18 at the time, and they were looking at the wholesale gas value in British Columbia, which might have been a couple of dollars, and, and they're looking at that arbitrage and thinking, well, my goodness, that there's a huge amount of profit here to be captured, so we need to make sure that's taxed. So they introduced, um, an LNG project tax”

SFIN-20260527-1330 · May 27, 2026

Nicholas Fulford

“Canada shares with Alaska this geographic advantage of being able to deliver gas quickly and at low risk to markets in Asia”

SFIN-20260527-1330 · May 27, 2026

Bert Stedman

“we need to look at that. Mr. Chairman, and then get into more discussion on the dilution issue, the equity dilution issue, which the state would be facing as a residual owner right now at 25% with no equity participation coming into the project yet from, from a third party.”

SFIN-260527-0900 · May 27, 2026

Bert Stedman

“In this case, Clunth Farm doesn't. They couldn't finance this thing if they had to by themselves. So I think we're— the scale difference between the previous three participants under 138, including the state with its financial assets and its taxing authority, far eclipses the structure of Glenfarm.”

SFIN-260527-0900 · May 27, 2026

Bert Stedman

“this committee has spent year after year after year dealing with construction projects all across the state and we have massive inflation and cost escalations over the last decade to the point where we've had to put in tens of millions of dollars backfill for OMB— excuse me, not OMB, but our contractors to facilitate the completion of their contracts”

SFIN-260527-0900 · May 27, 2026

Bert Stedman

“in essence, we own through 8STAR 25% of the sub-companies because we own 25% of 8STAR, is my understanding. And then when they go out to bring in other investors, we'll suffer a dilution issue. Issue. And the question is, how big is the dilution issue?”

SFIN-260527-0900 · May 27, 2026

Nicholas Fulford

“that was the project that was— that existed back in 2014-15. With ConocoPhillips, BP in those days, ExxonMobil, and the state all having a similar equity share in the project right the way through from the wellhead down to the LNG ships.”

SFIN-260527-0900 · May 27, 2026

Nicholas Fulford

“my understanding is that the 75-25 split relates to the holding company. And that as and when FID is taken on the sub-companies, capital will be, you know, put into those companies who will then potentially pay a dividend up to the holding.”

SFIN-260527-0900 · May 27, 2026

Bert Stedman

“that integrated structure you talked about, I think for the state's 25% share, included our royalties plus a gas tax to create that 25% alignment with the 3 major producers in that project, which seems to be quite dissimilar from the merchant structure or this tolling structure that you just mentioned.”

SFIN-260527-0900 · May 27, 2026

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