Alaska v. Amerada Hess

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Published on August 5, 2025 12:00:00 AM ● Video Link: https://www.youtube.com/watch?v=3d4gdG-QaJI

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Alaska v. Amerada Hess et al., officially known as State v. Amerada Hess et al. (1JU-77-877) was a 15-year-long civil lawsuit levied by the state of Alaska against 17 of the world's largest oil companies for underpayment of oil production royalties. The case was named after Amerada Hess, the first company in the alphabetical list of defendants. The case cost the state more than $100 million to prosecute, and all 17 companies settled out of court rather than face trial. The total settlements amounted to just over $600 million of the $902 million the state alleged had been underpaid. Additional settlements covering underpaid natural gas royalties and refining royalties amounted to another $400 million.
Under a law passed by the Alaska Legislature, the settlement money was invested in a separate account of the Alaska Permanent Fund. The Amerada Hess account, worth more than $424 million as of June 30, 2013, may not be used for the payment of Alaska Permanent Fund Dividends and instead is used for infrastructure projects. Since the case was settled, it has been used as an example of oil industry malfeasance in political and popular arguments.

Source: https://en.wikipedia.org/wiki/Alaska_v._Amerada_Hess
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