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About Alaskanomics

Northrim Bank launched the Alaskanomics blog to provide news, analysis and commentary on Alaska’s economy. With contributions from economists, business leaders, policy makers and everyday Alaskans, Alaskanomics aims to engage readers in an ongoing conversation about our economy, now and in the future.

« State’s new oil production forecast model less rosy; too early to tell if it is more accurate | Main | "Energy Comeback" for Alaska Begins Now »

Thursday, April 11, 2013

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Mark Edwards

Norway has been producing significantly more oil than Alaska for nearly three decades. At its peak, nearly 3.5 million barrels per day and they maintained over 3 million bpd for a decade. So at times they were producing 5 times the amount of Alaska. Also, Norway is the Federal entity in this equation, whereas Alaska only receives the state royalty on state lands. We are not the recipient of the Federal tax portion. So you would have to include Alaska plus the US government for a fair comparison. Alaska also chooses to save a portion of the royalty and spend the production taxes for current operating and capital budgets to pay for state government services. Alaska residents end up paying less than 10% of the cost of their state government general fund budget.

Kerwin Tschetter

How is it possible that Norway's “oil fund,” is at $710 Billion while our Alaska Permant fund is stuck at $40 Billion?

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