05/29/2006   English German
  Edition # 61  
San Francisco, 05-29-2006

Alaska Permanent Fund
Figure [1]: The Sweet Puffins

Angelika Anyone who has lived in Alaska for at least one year receives money for doing so. The "Alaska Permanent Fund" makes it possible. It pays an annual dividend to the residents of Alaska, regardless of their age.

The background: In 1976, a referendum led to an amendment of Alaska's constitution, requiring that 25% of the state's revenue from the extraction of natural resources (mainly oil in Alaska) be deposited into a fund and invested. This fund now holds 33 billion dollars. The amount of the annual dividend payout is determined by the return on investment. On average, it ranges from 600 to 1500 dollars per person. However, the year 2000 was exceptional, with nearly 2000 dollars per person! Politicians repeatedly attempt to change the use of the fund, suggesting that instead of distributing the money to everyone, it should be used for community purposes such as funding schools and hospitals. However, the population strongly opposes this. Locals told us that if a politician campaigns with this unpopular idea, they pay dearly at the polls.

However, nowadays big money is no longer to be made from oil in Alaska, as the oil fields at Prudhoe Bay are drying up. Bush and his associates, as well as some politicians in Alaska, want to open up the unique "Arctic National Wildlife Refuge" in the far north of Alaska for oil drilling. Fortunately, these efforts have so far been thwarted by various political maneuvers.

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