2010 AK oil budgets shrink

According to Reuters, a BP official told the Resource Development Council of Alaska this morning (11/18) that the company plans to cut about 15 percent from its 2010 development budget for Alaska. Officials from ConocoPhillips haven't set numbers to their plans yet, but one official said that the company is planning no new exploration and is changing its focus to offshore and federally managed land. Read much more here. Alaska Dispatch's own account of the meeting centers on what the news may mean for Alaska, and prominently features a disturbing comment about what kind of oil is no longer available in the state. Read much more from the Dispatch here.