Institute of Social and Economic Research
Since 2005, Alaska’s state government has collected as much in oil revenues as it did during the huge oil-revenue boom of the early 1980s: a combination of high oil prices and changes in the way the state calculates production taxes has created a second huge oil-revenue boom. But the oil creating this wealth is dwindling. That oil is from huge, low-cost oil fields on state-owned land, including the Prudhoe Bay field, and it has supported much of the economy and paid for most state government operations for decades. Check out the full report.