With oil production in freefall, Alaska, America's worst state for business, chases a new carbon boom
Publishing timestamp: 2023-07-11 16:47:33
Summary
The article discusses how Alaska's economy is struggling due to declining oil production and ranks last in CNBC's Top States for Business ranking. The state is looking to develop a new industry based on carbon emission offsets, allowing companies to buy credits to offset their emissions and generate revenue for the state. Skepticism exists regarding the effectiveness of Alaska's forest carbon offsets program, but the state is also considering a carbon sequestration program to further transform its economy.
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Keywords: state governments, climate, u.s. economy, corporate management, alaska hydro corp, alaska, united states government, local governments, pollution, economy, business news, energy, environment, oil and gas,