High Oil Prices Result in Budget Surplus.

• Position: Brief Article

The Department of Revenue has forecasted that Alaska North Slope oil prices will remain above historical levels for the next four years before settling down back under $20 a barrel. Projected high oil prices for fiscal year 2001, ending June 30, likely will produce a budget surplus of $116.5 million, Revenue Commissioner Wilson Condon recently announced.

The department projects oil prices to average $30.17 a barrel for fiscal year 2001, halfway between the high of $35.62 on Sept. 19 and a recent close of $25.

"Few people expected...