Oil was discovered in Prudhoe Bay, on the arctic coast, in 1968. Pipeline construction began in 1974 and was completed in 1977. The 800 mile pipeline is the largest privately financed construction project in history. The pipe is 48 inches in diameter. Oil moves at about 5.5 miles per hour and requires just under six days to travel from Prudhoe Bay to Valdez.
Tourism is also a major sector of Alaska's economy.
The industry attracts over 1.1 million visitors annually. The tourism industry is Alaska's second largest primary employer. The rich fishing waters off Alaska's coast make it one of the world's finest sources for wild seafood. Each year nearly 6 billion pounds of seafood are harvested. Alaska is the number one producer of wild salmon in the world.