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OIL REVENUE IN
ALASKAN GOVERNMENT Summary:
Oil royalties are Alaska's primary source of revenue. The oil
industry allows the government to run and to support other industries within
Alaska. The exploitation of this natural resource has allowed the state
government to run for 20 years. In 2002 the industry contributed $1.32
billion to the State General Fund. Purpose:
Alaska and its representatives have a vested interest in opening ANWR
for drilling. What is the reasoning behind this strong pro-drilling
stance? Relevance:
On the political front, drilling in ANWR means economic stability in
the state of Alaska for about 20-30 years to come. This estimate is
based on an estimated $60 billion profit from opening ANWR to drilling. Half
of the $60 billion would go to the federal government and the other half
to the state government of Alaska. This almost guaranteed stability
in the economy has the Alaskan representatives in Washington, D.C. pushing
for opening ANWR to oil companies. Sources: Goldsmith, Scott, Linda Leask, and Mary Killorin. No Title. Fiscal Policy Papers. Institute of Social and Economic Research, University of Alaska Anchorage. Number 13: May 2003. Online. 16 Oct. 03. http://www.iser.uaa.alaska.edu/fiscalpolicypdf.htm Tussing,
Arlon R. and Linda Leask. "The Changing Oil Industry: Will it
Affect Oil Prices?" Fiscal Policy Papers. Institute of
Social and Economic Research, University of Alaska Anchorage. Number
11: May 1999. Online. 16 Oct. 03. |
| Last updated: 9 Nov.
03 23:20 Page Layout: Mariela Perignon |
Kat Vater - kvater@mit.edu Team 9 - m2007-9@mit.edu |