by Rebecca Palsha
Monday, January 19, 2009
ANCHORAGE, Alaska -- The 2009 Alaska Legislature gavels to session Tuesday and Gov. Sarah Palin is facing a much tougher state budget situation because of the huge drop in oil prices.
Oil maxed out last year at $144.59 a barrel. Today the picture isn't as optimistic and Palin knows what she wants for the State of Alaska.
"Getting an in-state gas line is most important," she said.
But before a gas line is built the state has to face a new reality during the upcoming session. After the summer all-time high oil bottomed out at an all-time low of about $25 a barrel last month.
"Of course overriding everything will be managing a budget that is based on the price of a barrel of oil that has, relatively speaking, it's crashed," Palin said.