Alaska oil tops $100, sets record - March 02, 2008

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 2008

Vol. 13, No. 9

Week of March 02, 2008

Alaska oil tops $100, sets record

The price of Alaska oil has topped $100 for the first time ever, the Anchorage Daily News reported.

North Slope crude oil for delivery to West Coast open markets closed Feb. 26 at $100.73 a barrel.

State economists say nervous traders are stuck in a tight market that’s very sensitive to minor disruptions.

High oil prices are contributing to a state budget surplus.

Most of Alaska’s state budget, not counting federal contributions, comes from oil taxes and royalties.

—The Associated Press

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