Oil production from Alaska's declining North Slope fields is expected to fall 4.5% this fiscal...

|By:, SA News Editor

Oil production from Alaska's declining North Slope fields is expected to fall 4.5% this fiscal year after tumbling 70% since peaking at 2.1M bbl/day in 1998, posing a growing dilemma for the state's finances. Something's gotta give: Alaska collects no personal income or sales taxes, relying on oil taxes, royalties and fees for up to 93% of state revenue.