Video Clips

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

Matthew 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

Matthew 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

Matthew 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

Matthew 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

Matthew 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

Matthew 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

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

Matthew 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

“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

“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

“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

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 “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 “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

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 “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 “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 “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 “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 “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 “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 “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

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 “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 “unlike the Gulf Coast projects, which involve smaller capital investment but higher operating costs, for example, gas purchase and shipping, Alaska's quite the opposite. And although it's a gas project, it's almost easier to look at it as if it were a toll road or an airport or some kind of infrastructure project because most of the value for AKLNG is going to be in that midstream”

SFIN-260527-0900 · May 27, 2026

Nicholas Fulford “it is clear that one or more companies with a very significant balance sheet would have to enter the project with equity in order for it to get across the finish line.”

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

Nicholas Fulford “once FID has taken on those 3 subunits, the state's 25% of the holding company may or may not have significant value.”

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

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

Lyman Hoffman “we need to get the projected cost of the Trans-Alaska Pipeline and the actual cost, which has been, was substantially higher than doubled. From my recollection.”

SFIN-260527-0900 · May 27, 2026

Bert Stedman “ConocoPhillips, as I recall, was concerned that that could be a company-ending event if it was to go south. The project was so big.”

SFIN-260527-0900 · May 27, 2026

Nicholas Fulford “with the current arrangement, it's not surprising, frankly, that there is some degree of concern over confidentiality, capital costs, and so forth.”

SFIN-260527-0900 · May 27, 2026

Bert Stedman “if they need a concession, on a $45 billion project, what are they going to ask for when it's $70 billion?”

SFIN-260527-0900 · 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 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

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

“Memorial Day is a solemn occasion dedicated to honoring the brave men and women of the United States Armed Forces who made the ultimate sacrifice to service to our nation.”

2026 Memorial Day at Veterans Wall in Wasilla · May 27, 2026

“God bless our fallen heroes and their families. God bless our many veterans here today in the great state of Alaska.”

2026 Memorial Day at Veterans Wall in Wasilla · May 27, 2026

Beth Weldon “We may have inadvertently caused a double taxation that we just have to work with our our finance director and sales tax person to make sure that it's not what— I doubt that's what the intention of the assembly was, is to double tax something.”

May 27, 2026 Special Assembly Meeting · May 27, 2026

“I move that we introduce this ordinance set it for public hearing at the next regular assembly meeting and send it to the Finance Committee meeting, the June 3rd Finance Committee meeting for discussion. So this would still be on our June 8th regular meeting for public hearing, but we'd get an opportunity to chat about it next week.”

May 27, 2026 Special Assembly Meeting · May 27, 2026

Jared Griffin “COVID money helped bridge those gaps for a few years, and as have federal grants for numerous years. COVID money is gone. Um, we voted in an executive branch in, in D.C. that eliminated those education— federal education grants that provided for a lot of the services our kids rely on.”

Kodiak Island Borough Assembly Regular Meeting of May 21, 2026 · May 21, 2026

Dave Johnson “I had a conversation with my kids and I told them, you know, the sad reality is the education you're getting this year is probably the best you'll get while you're while you're in school. It's only going to get worse. For me, the kind of final straw, or whatever you want to call it, was going down to Juneau last, last winter and here being told that until the state's congressional budget reserve is fully depleted, there's no appetite to really do anything to fix things.”

Kodiak Island Borough Assembly Regular Meeting of May 21, 2026 · May 21, 2026

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