Alaska and the Oil industry

United States citizens residing in Alaska receive government money every year, but not in the traditional manners, such as social security, or tax refunds. Some of the money made in Alaska’s booming oil industry is put into a special investment account, and this account pays out dividends to the Alaska residents.

Every year, these dividends seem to be getting higher, and the Alaskan economy itself is getting stronger and stronger. This has a lot to do with the state of international trade. On a global scale, the supply of Oil is limited and always becoming more limited. In Alaska, the supply of Oil is still rather large, with copious amounts of it still yet untapped. In Alaska, due to the rather low population, the demand for Oil is rather low. It is still somewhat significant, but mostly because of the oil industry itself. The Demand in Alaska for oil is still lower than the demand in the contiguous forty-eight states, as well as the rest of the industrialized world.

One of the major results of the economic boon of the oil industry, is that the economy of Alaska has avoided the severe downturn of the economy that has so affected the rest of the nation. Expansion of the oil industry in Alaska, as currently planned, will prove to benefit the state at a great level, allowing it to grow economically, and become a larger factor in United States politics.