The clouds descended the next day, then lifted a bit but were present for the rest of our stay in Valdez. Like the other coastal towns we visited, Valdez is surrounded by mountains and glaciers which can only be seen when the clouds lift enough. The low clouds do have their own special beauty, though.
Valdez is the northernmost ice-free port, which is why it was chosen as the terminus for the Trans-Alaska pipeline, which is visible across the harbor from the town. I assume the town must have gotten (and continue to be getting) a considerable amount of revenue from the oil that changes hands there. There is clearly plenty of money for public facilities, and we heard stories about excess buildings, like an extra high school that was going unused. Extra high schools in a town with one stoplight? (And, by the way, the stoplight is just a blinker.)