Blinded by Riches: The Prudhoe Bay Effect
Alaska has repeatedly been saved by surprise developments or events. Prudhoe Bay oil was by far the largest such development—worth seven times more than all previous Alaska resource value combined. But the enormous value of Prudhoe Bay oil—the “Prudhoe Bay effect”—has blinded Alaskans to the perenni...
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Institute of Social and Economic Research, University of Alaska.
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ftunivalaska:oai:scholarworks.alaska.edu:11122/12092 2023-05-15T18:03:34+02:00 Blinded by Riches: The Prudhoe Bay Effect Full Report and Executive Summary (Understanding Alaska: Research Summary No. 3) Cole, Terrence 2004 http://hdl.handle.net/11122/12092 en_US eng Institute of Social and Economic Research, University of Alaska. http://hdl.handle.net/11122/12092 Prudhoe Bay Permanent Fund resource value Report 2004 ftunivalaska 2023-02-23T21:37:50Z Alaska has repeatedly been saved by surprise developments or events. Prudhoe Bay oil was by far the largest such development—worth seven times more than all previous Alaska resource value combined. But the enormous value of Prudhoe Bay oil—the “Prudhoe Bay effect”—has blinded Alaskans to the perennial dilemma created by relying on temporary resource revenues. Now, with oil revenues declining, Alaska once again has a budget crisis. But today there’s a crucial difference that can be summed up in two words: Permanent Fund. Figure 1 shows why Prudhoe Bay oil gave Alaska an opportunity unlike any previous development. Report Prudhoe Bay Alaska University of Alaska: ScholarWorks@UA |
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Open Polar |
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University of Alaska: ScholarWorks@UA |
op_collection_id |
ftunivalaska |
language |
English |
topic |
Prudhoe Bay Permanent Fund resource value |
spellingShingle |
Prudhoe Bay Permanent Fund resource value Cole, Terrence Blinded by Riches: The Prudhoe Bay Effect |
topic_facet |
Prudhoe Bay Permanent Fund resource value |
description |
Alaska has repeatedly been saved by surprise developments or events. Prudhoe Bay oil was by far the largest such development—worth seven times more than all previous Alaska resource value combined. But the enormous value of Prudhoe Bay oil—the “Prudhoe Bay effect”—has blinded Alaskans to the perennial dilemma created by relying on temporary resource revenues. Now, with oil revenues declining, Alaska once again has a budget crisis. But today there’s a crucial difference that can be summed up in two words: Permanent Fund. Figure 1 shows why Prudhoe Bay oil gave Alaska an opportunity unlike any previous development. |
format |
Report |
author |
Cole, Terrence |
author_facet |
Cole, Terrence |
author_sort |
Cole, Terrence |
title |
Blinded by Riches: The Prudhoe Bay Effect |
title_short |
Blinded by Riches: The Prudhoe Bay Effect |
title_full |
Blinded by Riches: The Prudhoe Bay Effect |
title_fullStr |
Blinded by Riches: The Prudhoe Bay Effect |
title_full_unstemmed |
Blinded by Riches: The Prudhoe Bay Effect |
title_sort |
blinded by riches: the prudhoe bay effect |
publisher |
Institute of Social and Economic Research, University of Alaska. |
publishDate |
2004 |
url |
http://hdl.handle.net/11122/12092 |
genre |
Prudhoe Bay Alaska |
genre_facet |
Prudhoe Bay Alaska |
op_relation |
http://hdl.handle.net/11122/12092 |
_version_ |
1766174481342005248 |