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Alaska celebrates 25th anniversary

A $25,000 fireworks display - the largest ever in Alaska - sparkled here Tuesday in celebration of Alaska's 25th anniversary as the 49th state. In Fairbanks Tuesday night, an Alaska Statehood Stamp was officially issued.

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In his statehood statement, Gov. Bill Sheffield noted the major role oil has played in Alaska, following the discovery 15 years ago of petroleum at Prudhoe Bay, the largest oil field in North America. The state receives $3.8 billion, about 85 percent of its operating budget, from oil-royalty interest.

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