Does Alaska's reliance on oil and gas mean that it inevitably will be controlled by corporate energy interests? Or can the state use its vast resource holdings to manage a more symmetrical partnership? The Political Economy of Oil in Alaska investigates the complex relationship Alaska has with its most precious commodity. Offering a new perspective on the challenges of oil-dependent development, the authors explore the dynamic balance between the power of a subnational government--as the owner of resources, possessor of fiscal authority, and regulator of safety and environmental conditions--and the ability of Big Oil to develop energy resources, affect the state economy, and influence state policies. The result is a comprehensive study of an often contentious alliance.