||The oil and gas industry is critical to Alaska, providing approximately 90% of State revenue. This stresses the importance of the energy industry to the people of Alaska.
The North Slope’s Prudhoe Bay field is the largest U.S. oil field. Alaska ranks second in the U.S. in crude oil production (excluding Federal OCS production), however, Alaskan oil production has been on a downward trend since it peaked in 1988.
Alaska has substantial marketed natural gas production, most of which originates from the Cook Inlet, where output is in decline.
Alaska Department of Natural Resources, Division of Oil & Gas 2009 Annual Report