"The Alaska Permanent Fund is a constitutionally authorized appropriation of oil revenues, established by voters in 1976 to manage a surplus in state petroleum revenues from oil, largely in anticipation of same from the recently constructed Trans-Alaska Pipeline System. The fund was originally proposed by Governor Keith Miller on the eve of the 1969 Prudhoe Bay lease sale, out of fear that the legislature would spend the entire proceeds of the sale (which amounted to $900 million (US)) at once, and was later championed by Governor Jay Hammond and Kenai state representative Hugh Malone. It has served as an attractive political prospect ever since, diverting revenues which would normally be deposited into the general fund."
That said, the state taxes companies, the money taxed and collected by state force is redistributed to Alaskan residents.
Doesn't sound conservative...
Could you provide a source for your quote please?
This is from the article
“ Some say Mrs. Palin’s ACES is like that, because this year every Alaskan will receive a $1,200 check as a share of the oil bonanza. (The check comes in addition to the approximately $2,000 every Alaskan will receive this year as a dividend from the Permanent Fund, which was established by state constitutional amendment in 1976 as a way of sharing the state’s mineral wealth with the people.)
A direct share in oil profits for every citizen is the ultimate incentive for more drilling.”
There are two types of payments. The Oil Companies do not own the land they are drilling on. They must pay a fee for it’s use and the fee goes directly to the people of Alaska instead of into the state coffers. That sounds like an awesome plan to me.
>> “Doesn’t sound conservative...” <<
.
Are you of the opinion that ‘conservative’ means “screw the people?”