Oil revenue makes up about 40% of Alaska’s general-purpose revenue, leaving state finances unstable and dependent upon estimated oil prices.
"oil revenue"
State’s revenue department predicts slow uptick in oil prices
While the state is forecasted to make more money this year than it did last year, it is still spending more than it makes.
Third major ratings agency downgrades Alaska credit
It follows downgrades earlier this year from the other two major ratings agencies, Standard and Poor’s and Moody’s Investors Service.
Walker says he’ll call special session if Legislature doesn’t approve new revenue
The Department of Revenue released a forecast today showing the state will bring in $800 million dollars less in oil revenue this year and next than the department projected in the fall.
Begich introduces bill granting state a share of offshore drilling revenue
Senator Mark Begich is introducing a bill that would grant the state a share of revenues from offshore drilling.