The Alaska Department of Revenue’s fall forecast, released Dec. 15 as Petroleum News was going to press with this issue, shows a sharp decrease in forecast production compared to the spring forecast, with Alaska North Slope crude oil volumes dropping below 600,000 barrels per day beginning in the current fiscal year, 2012. In the spring forecast, Revenue was projecting production of more than 600,000 bpd through fiscal year 2017. Production is projected to average 574,000 bpd for FY 2012, dropping below the 500,000 bpd mark in FY 2020. In his cover letter to the governor, Revenue Commissioner Bryan Butcher said...