Reason for concern over state finances
September 29, 2022
Workers, families and retirees are not the only Alaskans squeezed by inflation, rising interest rates and tumbling investments.
The state is in the same tight spot. And it could get worse.
The price for Alaska North Slope crude oil was down to $86.57 a barrel as of last Friday, dropping a third from almost $128 in early June. U.S. benchmark West Texas Intermediate was even lower, at $78.74.
The stock market, where the Alaska Permanent Fund invests much of its money, as of Friday was down 20% from the start of the year. Bond and real estate values also are falling as rising interest rates, w...