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"The State of Alaska has collected more than $160 billion from oil & gas since 1959."
Industry
History
History - 2000's
History – 1990′s
History – 1980′s
History – 1970′s
History – 1960′s
History - 1950's
Today's Stats
Most recent available
Alaska Crude
West Coast Delivery
$63.99
-$1.15
11/11/2019
Natural Gas
Henry Hub
$2.64
-$0.15
11/11/2019
Oil Production
507,817 bpd
-1,520 bpd
11/11/2019
History – 1980′s
1980
One billionth barrel flows through TAPS.
Congress passes Alaska National Interest Lands Conservation Act.
Alaska’s personal income tax repealed.
Legislature makes first special appropriation of $900 million of oil revenues to the Permanent Fund.
Wellhead price of U.S. crude oil - $21.59 per barrel.
State petroleum revenue triples in one year; 90% of $2.5 billion unrestricted general fund.
Alaska population: 401,851.
1981
State petroleum revenue exceeds $3 billion, 90% of unrestricted general fund.
1982
William Sheffield (D) elected Governor (1982–1986).
Beaufort Sea OCS lease sale generates more than $2 billion.
Oil prices rise to $34 per barrel.
469,740 Alaskans receive first PFD.
State petroleum revenue exceeds $3.5 billion, 87% of the record high $4.1 billion unrestricted general fund.
1983
$2 billion water flood project adds 1 billion barrels to expected Prudhoe Bay recovery.
1985
Petro Star begins second North Pole refinery.
1986
Steve Cowper (D) elected Governor (1986-1990).
Saudi Arabia increases oil export—wellhead price of U.S. crude falls from $24 to $12.
Central Gas Facility (CGF), world’s largest miscible gas recovery project, constructed to handle up to 3.8 bcf/d at Prudhoe Bay.
First new platform in 18 years in Cook Inlet - Steelhead.
Alaska receives $2.7 billion in petroleum revenues, 86% of unrestricted general fund.
1987
Oil prices collapse; state petroleum revenue and general fund are half of previous year.
1988
North Slope production peaks at 2 million bpd.
Pt. McIntyre oil field discovered (production begins 1993).
1989
Permanent Fund assets reach $10 billion.
Exxon Valdez oil spill occurs.