Oil Dependence and Economic Activity

Setting the stage Let's quickly look at where this oil decline has left the state What about Alaska's important economic base? Why have some states recovered? Aggregate relationship between oil prices and employment Where does this leave us? In one picture Figure 5. Unrestricted General Fund Petroleum Revenues, FY 1975-2018 (In Millions of Dollars) $11,445 Adjusted for inflation ($2016) $9,956 $9,382 $7,995 $4,518 $1,340 $3,575 $345 $2.572 $90 Not adjusted for inflation 5913 1975 1982 1987 1991 1999 Source: Alaska Legislative Finance, September 2017 $8.869 2008 2012 $1,223 $1,110 2016 >> 592 Mouhcine Guettabi, PhD Oil dependence and economic activity

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