TAPS at 35: Accounting for the Oil Revenues

Abstract

Thirty-five years ago, on June 20, 1977, oil from state-owned land on the North Slope began flowing through the trans-Alaska pipeline. Since then, the state has collected $170 billion in oil revenues, in today’s dollars.i Petroleum (both oil and gas) still in the ground might generate another $100 billion for the state.ii What has Alaska done with its oil wealth so far?