2 years, 1 month ago
How much revenue does the state of Alaska and Alaskan citizens make from oil drilling?
The Governor of Florida believes the concept of "Drill baby Drill" should be brought from Alaska to Florida. Many Florida citizens are concerned that in addition to the potential environmental issues, the tourism industry that Florida depends on could be put in jeopardy as well.
The Governor of Florida is taking this idea to local government in the state with town hall meetings, but it is difficult to critically analyze the facts of their claims without finding impartial data on the subject.
The Governor of Florida is taking this idea to local government in the state with town hall meetings, but it is difficult to critically analyze the facts of their claims without finding impartial data on the subject.
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According to information from the State of Alaska (http://www.dog.dnr.alaska.gov/oil/ ) Alaska produced 21.8 million barrels of oil, and 37.4 billion cubic feet of natural gas in the month of January 2010. Multiplying by 12 you can estimate an annual amount of 262 million barrels of oil and 449 billion cubic feet of natural gas. Depending on the sale price of a barrel of crude oil and of a billion cubic feet of natural gas, as well as the costs of production and transportation, the revenue will likely fluctuate.
Alaska's February 2010 Royalty Revenue was $210.1 million. This was divided among their permanent fund (29.8%), school fund (0.5%), general fund (66.2%), and CBRF or constitutional budget reserve fund (3.5%). If you simply multiply by 12 for an annual amount you'd get about $2.5 billion, though as stated above, this is likely a fluctuating number, so this is an inaccurate estimate only for the annual royalty.
Alaska's February 2010 Royalty Revenue was $210.1 million. This was divided among their permanent fund (29.8%), school fund (0.5%), general fund (66.2%), and CBRF or constitutional budget reserve fund (3.5%). If you simply multiply by 12 for an annual amount you'd get about $2.5 billion, though as stated above, this is likely a fluctuating number, so this is an inaccurate estimate only for the annual royalty.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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