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Go Back   Armchair General and HistoryNet >> The Best Forums in History > Historical Events & Eras > American Age of Discovery, Colonization, Revolution, & Expansion > American Revolution

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American Revolution 1763-1789 The birth of a new nation - to commence at the Proclaimation of 1763 to the end of the Articles of Confederation.

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  #1  
Old 24 Feb 09, 10:49
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Question EXACT price per acre paid for Alaska

I am lookin for the exact price per acre.
I know the total price paid was 7.2 million.
All research I can find is saying "about" 2 cents or "about" 1.9 cents and I am wondering if there is an EXACT answer.
Thank you
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  #2  
Old 24 Feb 09, 14:28
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So how many acres are in alaska?
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Old 24 Feb 09, 14:29
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One international acre = .0015625sq.mi (1 sq.mi =640 acres)

Alaska has 663,268 sq.mi. or 424,491,520 acres

424,491,520/$7.2M= $.01696/acre
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Old 24 Feb 09, 14:57
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Quote:
Originally Posted by Lance Williams View Post
One international acre = .0015625sq.mi (1 sq.mi =640 acres)

Alaska has 663,268 sq.mi. or 424,491,520 acres

424,491,520/$7.2M= $.01696/acre
Your spoiling him/her. They were supposed to do the homework by themselves
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Old 24 Feb 09, 15:20
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Quote:
Originally Posted by Lance Williams View Post
One international acre = .0015625sq.mi (1 sq.mi =640 acres)

Alaska has 663,268 sq.mi. or 424,491,520 acres

424,491,520/$7.2M= $.01696/acre
If you applied the entire purchase price to the total cumulative oil production from the Prudhoe Bay oil field from 1977-2005 (~13 billion barrels)...It works out to $0.00055 per barrel of oil ($553.85 per million-barrels of oil).
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Old 24 Feb 09, 16:17
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Quote:
Originally Posted by The Doctor View Post
If you applied the entire purchase price to the total cumulative oil production from the Prudhoe Bay oil field from 1977-2005 (~13 billion barrels)...It works out to $0.00055 per barrel of oil ($553.85 per million-barrels of oil).
Don't we need just a bit of inflation adjustment?..............
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Old 24 Feb 09, 16:29
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Quote:
Originally Posted by Lance Williams View Post
Don't we need just a bit of inflation adjustment?..............
$104,000,000 = Inflation adjusted purchase price.
$0.00800 = Inflation adjusted cost per barrel.
$8,000.00 = Inflation adjusted cost per million barrels.


At $40 per barrel...13 billion barrels is worth $520 billion....So the current cumulative Prudhoe Bay oil production by itself represents an inflation adjusted profit of $519.9 billion. The fish, crabs, bears, trees, volcanoes, glaciers, Eskimos, seals, gold and land were "extras"...That's one heck of a "Folly!"

Too bad Seward can't be put in charge of TARP!
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Old 24 Feb 09, 19:00
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Quote:
Originally Posted by The Doctor View Post
$104,000,000 = Inflation adjusted purchase price.
$0.00800 = Inflation adjusted cost per barrel.
$8,000.00 = Inflation adjusted cost per million barrels.


At $40 per barrel...13 billion barrels is worth $520 billion....So the current cumulative Prudhoe Bay oil production by itself represents an inflation adjusted profit of $519.9 billion. The fish, crabs, bears, trees, volcanoes, glaciers, Eskimos, seals, gold and land were "extras"...That's one heck of a "Folly!"

Too bad Seward can't be put in charge of TARP!
I always though Seward never received enough respect for his wisdom in obtaining Alaska for "almost nothing"..........
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Old 25 Feb 09, 00:09
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Quote:
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One international acre = .0015625sq.mi (1 sq.mi =640 acres)
I'm having Public Lands Survey System flashbacks!!

Bit o' Trivia: They still haven't divided up all of Alaska into Townships and Sections.
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