The oil boom revitalized Alaska. Post WWII, the economy of
Alaska was in decline due to the low price of timber and salmon, a decrease of
military spending, and a lack of valuable exports. The money spent in Alaska
attempting to drill was great because it employed people and stimulated the
economy. However, the real money started flowing in when a bidding was held for
the Prudhoe Bay Oilfield and other areas thought to contain oil. It followed
with construction of the pipeline and maintenance of the drilling crews and
rigs. All of this provided jobs for Alaskans and oil revenue for the state.
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