The state of Alaska s economy is largely dependent on the oil and gas industries, with revenues that supply 85 percent of the state budget. Juneau, the state capital, is located in the southeast region of Alaska and has a population of more than 30,000. The name Alaska is derived from the Aleut word 'Alyeska,' meaning 'great land.' Dog mushing is the state sport and was once a primary form of transportation in many areas of Alaska. Secretary of State William H. Seward arranged for the United States to purchase Alaska from Russia in 1867 for $7.2 million, or 2 cents per acre. Alaska is the largest state, about 2.3 times the size of Texas and about one-fifth the size of the continental United States.