Too bad Texans didn’t have Gov. Palin to get us a deal like this. We let the oil barons rob our citizens of their share of the natural resources of Texas. (The OK Indian tribes were smarter than that.) Billions of dollars are locked up in state funds, such as the Permanent University Fund, while Texas parents can’t send their students to the University of Texas system or the Texas A & M system because they can’t afford the ever-rising costs. Yep, we Texans surely are gullible.
Palin didn't set this up. The permanent fund was an Alaskan Constitutional Amendment in 1976.
http://www.apfc.org/home/Content/aboutFund/fundHistory.cfm
In Texas, the mineral rights are almost all privately owned.