The state of Alaska is considering a more aggressive approach to oil and gas development in order to make up for its collapsing revenue. Alaska relies on oil and gas to fund 90 percent of the state’s discretionary spending. With oil prices half of what they were last summer, Alaska’s tax collections from the industry are down 80 percent. Not only are prices down, but production continues to slowly decay as well (see chart). With Alaska’s finances in ruins, the state government is actively seeking ways to revive oil and gas…
