What do high oil prices mean for Alaska’s economy? We asked an economist.
The Trans-Alaska Pipeline runs alongside the Dalton Highway near the Toolik Field Station on June 9, 2017, in the North Slope Borough. (Rashah McChesney/Alaska’s Energy Desk)
After two years of volatility, including some of the lowest oil prices on record, Alaska’s North Slope crude has been over $100 a barrel since March. High oil prices are associated with increased oil revenue and economic activity in the state — but how much do individual Alaskans feel those benefits? We spoke to state economist Sara Teel to find out.
Teel says the recent highs follow a long period of uncertainty in the industry.
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The following transcript has been lightly edited for clarity.
Sara Teel: We have definitely seen those kinds of lows and those kinds of highs. In March/April of 2020, we…