The Alaska Contractor: Special 60th Anniversary Issue

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1977 The trans-Alaska oil pipeline is completed from Prudhoe Bay to Valdez. A barrel of crude oil takes 5.04 days to fl ow from Prudhoe Bay to Valdez through the trans-Alaska oil pipeline at 6.62 mph. 1980 Alaska Legislature establishes Alaska Dividend Fund to distribute Permanent Fund earnings to Alaska residents. Congress passes Alaska National Interests Lands Conservation Act. 1980 Alaskaʼs population totals 402,000. 1978 Klondike Highway between Skagway and Whitehorse opens. PH O TO: CO U R T E SY O F AN C H O R AG E MU S E U M AT RASMUSON CENTER “The construction industry is a vital part of Alaska’s economy, providing good jobs for Alaskan families and critical infrastructure for our residents. Congratulations to AGC on the occasion of your 60th anniversary as you continue in your dedication to improving the professional standards of the construction industry.” – Gov. William Sheffi eld 1981 AGC of Alaska named Chapter of the Year. 1982 The fi rst of four hydroelectric projects, later to be known as the “Four Dam Pool,” comes online in Valdez. First Permanent Fund Dividend check is distributed: $1,000. State revenues peak at $4,108,400,000 after the Organization of Petroleum Exporting Countries, or OPEC, fi xes oil price at $34 a barrel. Gov. William J. Sheffi eld is sworn in. 1984 The remaining three hydroelectric projects making up the Four Dam Pool come online. U.S. President Ronald Reagan and Pope John Paul meet at the Fairbanks airport May 2. 1985 State purchases Alaska Railroad from the federal government for $22.3 million. 32 The Alaska conTrAcTor 60th Anniversary Issue 1948–2008
PH O TO: CO U R T E SY O F RO N A L D RE AG A N PRESIDENTIAL LI B R A RY 1986 Price of oil drops below $10 a barrel. Gov. Steve Cowper is sworn in. 1988 The stateʼs economic woes continue and Anchorage loses 30,000 in population. Trans-Alaska oil pipeline throughput of oil peaks at 2 million barrels per day. 1987 Low oil prices continue to affect the state, causing many to lose their jobs and leave the state, banks to foreclose on property, and businesses to go bankrupt. Between 1985 and 1987, nearly one in 10 jobs disappear from the Alaska economy. Construction begins on Red Dog Mine. 1989 The Exxon Valdez ran aground on Bligh Reef in Prince William Sound and spilled 11 million gallons of its 53 million gallons of North Slope crude. The Permanent Fund passes the $10 billion mark. Production begins at Greens Creek Mine. 1990 Alaska population reaches 550,000 according to the U.S. Census Bureau. Alaska Native population is estimated at 95,000. Gov. Walter J. Hickel is sworn in. PH O TO S: © TECK CO M I N C O LIMITED 1991 The 8 billionth barrel of oil arrives in Valdez Jan. 1. 1992 Spurr Volcano erupts three times, one blast dumping ash on Anchorage. 60th Anniversary Issue 1948–2008 The Alaska conTrAcTor 33 PH OTO S: CO U RT E SY O F T H E EX XO N VA L D E Z OIL SPILL TRU ST E E CO U N C I L PH O TO: CO U R T E SY O F AL A S K A VO LC A N O OB S E R VAT O R Y / U.S. GE O LO G I C A L SU RV E Y / BY GA M E MCGI M S E Y
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The Alaska Contractor: Special 60th Anniversary Issue

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