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Alaskans get $1,174 checks from state's oil wealth
Ms Sans Serif
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[quote:suvalley:MV8xNjQ2ODY3XzI3MjA1NzIxXzNFMENBMkE2] The resources of the state belong to all Alaska residents. When the pipeline project came along, former Gov. Jay Hammond was instrumental in establishing the Permanent Fund. It is earnings from this that are shared. The income is from royalties on oil and gas extracted, basically, plus some investments the fund managers have made over the years. The TAPS line from Prudhoe Bay to Valdez is carrying less every year, and eventually it will decline to the point that oil cannot be shipped at all. It used to carry over 2 million gallons a day (much of it destined for CA refineries) and is now under 600,000. The amount the residents receive is going to continue to drop due to the declining revenues. [/quote]
JUNEAU, Alaska (AP) — Most Alaska residents will soon be getting a check for $1,174 simply because they live there.
Each person's share of the state's vast oil wealth was announced with much fanfare in Anchorage Tuesday, with Gov. Sean Parnell ripping open a gold-colored envelope to reveal the number. This day is so widely anticipated in Alaska that the announcement of the Permanent Fund Dividend amount was carried live on television statewide, and dozens tuned in to watch a live webcast by the governor's office.
link to news.yahoo.com
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