Reply #6: And then there is Alaska! [View All]

[JDPriestly]

Don't Alaskans actually get some sort of share or pay-out from the oil revenue? I'm not certain about that, but I think I've heard it somewhere. Has anyone else heard that Alaskans get to share in the oil money?

I'm right (on edit)

ALASKA

The Alaska state constitution claims common heritage rights of ownership of oil and other minerals for the people of the state as a whole. Citizen dividend checks are distributed every year in Alaska out of the interest payments to an oil royalties deposit account called the Alaska Permanent Fund (APF) created in 1976 after oil was discovered on the North Slope. The APF is a public trust fund - a diversified stock, bond and real estate portfolio - into which are deposited the oil royalties received from the corporations which extract the oil from the lands of Alaska. The first citizen dividend check from the interest of the APF was issued in 1982 and was for $1000 per every person for everyone in Alaska who had resided in the state for at least one year. Annual citizen dividends have been issued every year since then, for a total of more than $23,000 per person.

http://www.progress.org/cg/cdann.htm