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Alaska Struggles To Fund Education as Oil Income Evaporates

Since the mid-1970s, Alaska’s public education system has relied on funding from the state’s oil income. But revenues from the oil industry have begun to disappear as the market price per barrel has fallen to $40.

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Since the mid-1970s, Alaska’s public education system has relied on funding from the state’s oil income. But revenues from the oil industry have begun to disappear as drillers pump less product and the market price per barrel has fallen to $40. Lawmakers are scrambling to repair the damage by proposing new taxes on income and goods to fund education, while simultaneously closing small schools and withdrawing resources from those left open. (The New York Times)

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