Alaska Is Reaping The Benefits Of High Oil Prices

Thanks to skyrocketing oil prices, Alaska is reaping billions of U.S. dollars more than expected. As crude oil surged in recent months, the state where oil revenues account for a large part of the budget, general fund revenues, and state revenue from business is now considering the best ways to spend all the windfall from oil.    Just before Russia invaded Ukraine and sent oil prices surging, Alaska’s Department of Revenue started developing a monthly revenue outlook for the current and next fiscal years, to ensure that policymakers…