Revenue
Alaska is the only state in the Union that is so dependent on one industry to fund its government services. Since the completion of the Trans-Alaska Oil Pipeline, petroleum revenues to the State of Alaska have averaged over 85 percent.
In the state’s fiscal year ending June 2007, oil and gas revenues represent 88 percent of Alaska’s unrestricted revenue. Oil tax revenue has a significant effect on the state’s ability to provide services to Alaskans.
As noted in the chart below, FY2008 revenues are projected to double due to the production tax increase approved by the legislature in the Fall 2007.
