Alaska has vast energy resources, although its oil reserves have been largely depleted. Major oil and gas reserves were found in the Alaska North Slope (ANS) and Cook Inlet basins, but according to the Energy Information Administration, by February 2014 Alaska had fallen to fourth place in the nation in crude oil production after Texas, North Dakota, and California. Prudhoe Bay on Alaska's North Slope is still the second highest-yielding oil field in the United States, typically producing about 400,000 barrels per day (64,000 m3/d), although by early 2014 North Dakota's Bakken Formation was producing over 900,000 barrels per day (140,000 m3/d). Prudhoe Bay was the largest conventional oil field ever discovered in North America, but was much smaller than Canada's enormous Athabasca oil sands field, which by 2014 was producing about 1,500,000 barrels per day (240,000 m3/d) of unconventional oil, and had hundreds of years of producible reserves at that rate.

What other states rank higher than Alaska in crude oil production?