Alaska Demographic, Economic, and Social Trends

Abstract

This presentation outlines key developments in Alaska's development and potential directions for future development based on demographic, economic and social trends. At statehood the economy was dominated by the federal government, but today, at least in the larger communities, it looks surprisingly like the rest of the US. Booms and busts have and continue to exert a strong influence on the economy, particularly on regional economies, in spite of this maturation. The Petroleum Cycle has been the single most important economic event since statehood. Oil with a market value of about $250 billion has been produced from the NS. Production peaked in the late 1980s and the price peaked at $60 (NS delivered to the lower 48) in the early 1980s. We have had our share of happy events ranging from high oil prices when production was high to a high flying stock market when we had a Permanent Fund to invest, to a powerful congressional delegation when Washington had $$ to distribute. Now that we look more like the rest of the US and economic growth has slowed, we can should take stock of where we are. There are a number of surprises.