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Message Subject Alaskans get $1,174 checks from state's oil wealth
Poster Handle suvalley
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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.
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