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Alaska's oil-fuelled financial crisis

Ninety percent of Alaska's state government revenue comes from the oil industry, so with the price of oil plummeting, it's been hit hard. To cope, Governor Bill Walker is planning to do something that used to be political suicide - bringing in Alaska's first state income tax in nearly forty years, as well as halving the size of the payout residents get from the state's oil wealth investment fund. He spoke to Owen Bennett Jones about the scale of the crisis facing Alaska.

(Photo credit: Getty Images)

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2 minutes