[thackney]

there are a number of other states who could do the same

Only if they confiscated the already private owned mineral rights. Alaska was set up such that the State owns all the mineral rights outside of the Federal or Native owned lands from the beginning.

[elpadre]

I don't know, but what about off shore? I recall the VA governor stating off shore drilling would be a bonanza for the state treasury - or words to that effect.