More than any other state, Alaska is dependent on oil.
As much as 85% of the state's unrestricted general fund revenue comes from oil production, according to state estimates.
But oil production has been in long-term decline in the state, which was once America's No.
Alaska's crude production in 2022 was roughly equal to that of Oklahoma, and it hit the lowest level since 1976, according to Energy Department data.
This trend helps explain why Alaska's economy performed worse than any other state last year, according to the Commerce Department, shrinking by 2.4%.
Persons:
that's, Mike Dunleavy, Dunleavy
Organizations:
Energy Department, Commerce Department, Frontier, Business, Education, Alaska, Republican, SB
Locations:
Alaska, Texas, New Mexico, North Dakota, Oklahoma, States