Even at $52 a barrel, Alaska will still be bleeding red ink. Add to this, declining production as the oil companies cut back on their exploration and development on the North Slope, and existing fields are depleted. There is no way that oil prices will rise enough to balance Alaska's budget:

Saudi Arabia is considering increasing production by a million barrels per day. "Iran’s plans to bring its production back up to pre-sanction levels of 4 mmb/d, and then plans by Kuwait and Qatar who have also announced plans to grow."

http://www.marketwatch.com/story/get-ready-for-an-epic-post-doha-battle-for-oil-market-share-2016-04-18