Investor Presentaiton

The Alaska Department of Revenue is projecting that state revenues will decline gradually in the future. But what will actually happen is highly uncertain! This graph shows the Alaska Department of Revenue's projections for State revenues through FY 2021- as of Fall 2011. They are projecting (guessing) that oil prices will average slightly higher in 2012, causing revenues to increase, but that future revenues will decline as production declines. But the future projections are highly uncertain-because we don't know what will happen to oil prices! 12000 State General Fund (Unrestricted) Revenues: Actual (through FY 11) and Projected (beginning FY 12) millions of dollars 10000 Actual revenues 8000 6000 I Non-Oil Revenues Oil: Other oil revenues Oil: Production taxes Oil: Royalties 4000 2000 0 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 Department of Revenue projections 26

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