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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Bibliographic Details
Main Author: Cole, Terrence
Format: Report
Language:English
Published: Institute of Social and Economic Research, University of Alaska. 2004
Subjects:
Prudhoe Bay
Permanent Fund
resource value
Alaska
Online Access:http://hdl.handle.net/11122/12092
id ftunivalaska:oai:scholarworks.alaska.edu:11122/12092
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spelling 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
institution Open Polar
collection 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

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