Alaska budget forecast: $5 billion annual surplus

Posted: Sunday, November 28, 2010

FAIRBANKS - Public managers say that if oil prices hold steady, Alaskan coffers should enjoy a $5 billion surplus in annual income through 2012.

The Fairbanks Daily News-Miner reports that North Slope crude prices of $77.96 and $82.67 per barrel for, respectively, fiscal years 2011 and 2012 could collectively steer more than $11 billion in "unrestricted" revenue toward state coffers.

But while the forecast looks fat, Republican Representative Tammie Wilson of North Pole says that Alaska should invest in capital spending, noting that only one-third as much oil is flowing as in the late 1980s.

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