BACKGROUND

Alaska’s North Slope has responsibly produced over 18 billion barrels of oil since the discovery of the Prudhoe Bay oil field. Oil production has been the engine of economic growth in Alaska. It has funded up to 90% of the state’s unrestricted General Fund revenues in most years and has accounted for nearly $274 billion in total revenue since statehood. The oil industry accounts for 25% of Alaska jobs, over 69,000 direct and indirect jobs; and nearly 50% of the overall economy when the spending of state funds from oil revenues is considered. For each job in Alaska’s oil industry, there are 15 new jobs in the Alaska economy connected to the industry. No other industry in Alaska comes close to the multiplier effect of the oil and gas industry. With the Willow and Pikka Projects creating a new renaissance on Alaska’s North Slope, the industry will invest an estimated $14 billion in new projects and create 2,700 new jobs between now and 2028.

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WEB LINKS

• http://www.dog.dnr.state.ak.us/oil/
• http://www.labor.state.ak.us/home.htm
• http://www.eia.doe.gov/
• http://www.blm.gov/wo/st/en.html
• http://www.usgs.gov/
• http://www.alyeska-pipeline.com/
• http://www.dor.alaska.gov
• www.aoga.org

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SOURCES

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