The economic status of Alaska is identical to that of an undeveloped third world country. And their State politics and politicians are not much different either. They are mouthpieces for the oil and gas industry, bought and paid for by the oil industry through the vast royalties paid to the state.
Comment on Alaska and the oil and gas industry from a former employee of Shell Oil Company USA
John,
I have a few comments about Alaska and the oil and gas industry.
Thirty odd years ago the mainstay industries of Alaska, if you can call them that, were fishing, logging and mining. There was some oil production from Cook Inlet, but it was not a significant contributor to the states economy. Then along came Prudhoe Bay and the North Slope. Suddenly, the State of Alaska was awash in royalty revenues.
That gravy train has chugged along for thirty years, but it is beginning to run out of steam. If significant new reserves of oil and gas not discovered in the National Petroleum Reserve and if development of known oil and gas reserves in the Arctic National Wildlife Refuge are not permitted, and if it is not possible to produce the known oil and gas reserves, and undiscovered reserves from the Arctic Continental Shelf, which is a real possibility, then Alaska and Alaskans have a serious problem. They will have to fund their State government like every other state in the continental US. Through sales, income and property taxes. And State services will have to be curtailed dramatically. read more
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