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dc.contributor.authorGoldsmith, Scott
dc.date.accessioned2021-11-17T23:32:52Z
dc.date.available2021-11-17T23:32:52Z
dc.date.issued1994
dc.identifier.urihttp://hdl.handle.net/11122/12488
dc.description.abstractThe state of Alaska has an economic and fiscal structure that is unique among the states. The petroleum industry, including exploration and development, production, transportation, and refining, accounts for nearly half of gross state product (the state equivalent of gross domestic product). In theory it is a simple matter to devise a rule that has the dual effects of neutralizing cycles in economic activity associated with the life cycle of petroleum exploitation and maximizing the benefits to residents from the expenditure of the petroleum wealth. Of the many complicating factors that make it difficult to devise and apply such a rule is the uncertainty regarding the size of the endowment, which is also one of the most interesting. How much it is appropriate to spend today depends directly on the size of the endowment not yet collected. This paper reviews a model for answering the public policy question of when to spend, with a special focus on how uncertainty complicates the debate. It also looks at the process of developing a plan for implementing the model within the context of the Alaska political and fiscal structure. Presented at the Second OPEC/Alaska Energy Conference in Anchorage, Alaska on May 7, 1994.en_US
dc.language.isoen_USen_US
dc.publisherInstitute of Social and Economic Research, University of Alaska.en_US
dc.subjectpetroleum industryen_US
dc.subjectexploration and developmenten_US
dc.subjecteconomic activityen_US
dc.subjectmodelen_US
dc.subjectuncertaintyen_US
dc.subjectSecond OPEC/Alaska Energy Conferenceen_US
dc.subjectgross state producten_US
dc.titleImplications of Oil Supply Uncertainty on a Small Oil-Producing Regional Economyen_US
dc.typeReporten_US
refterms.dateFOA2021-11-17T23:32:52Z


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