A new report by Scott Goldsmith for the UAA Institute of Social and Economic Research (ISER) analyzes Alaska's oil revenues and spending since Alaska North Slope oil began flowing through the Trans Alaska Pipeline.
The state has collected $170 billion in oil revenues since 1977 (in today's dollars), and $141 billion of those revenues were initially deposited into the General Fund - accounting for 85% of General Fund revenues since 1977. For 2012, the share was 92% - the highest share ever.
With no personal income or sales tax, and limited revenues from non-petroleum sources, Alaska is highly dependent on one source, and a handful of taxpayers, to fund state government.
Comments
You can follow this conversation by subscribing to the comment feed for this post.