Alaska Permanent Fund Dividend
It’s been a miserable summer in Juneau. Rain, rain, and more rain. I wonder how many people have seriously considered moving because of it. And I wonder how many of those people decided to stay because of the Alaska Permanent Fund dividend.
The Alaska Permanent Fund is Alaska’s way of giving back to the residents of the state. Profits from oil sales are put into a fund, only 1% of which is then invested. Every October, the average earnings over the last five years is split among us 600,000 (or so) residents. (It’s more complicated than that, but only slightly.) Our dividends dipped during the dot-com crash, but that five-year average insulted us from a huge cut. Conversely, it’ll take a few more years before we see how high these record oil prices push it back up.
Everyone’s waiting for the checks, which could arrive as soon as Friday. This year’s dividend is the biggest ever, at $2,069. Of course, our illustrious governor decided that her constituents were unfairly burdened by high oil prices this year, so she spearheaded an initiative to share a little more of the state’s wealth. Each resident will receive an extra $1,200 in “energy relief” this year. (No wonder she has such a high approval rating!) The energy relief packaged is issued by the same office, the Alaska Permanent Fund Division, so in essence we’re each receiving a $3,269 dividend this year. Think of it: A household of five will receive a bulk sum of $16,345! Sky’s the limit for Mormons and Catholics! Who wants to move now?
With only a week before Labor Day, it was a long shot that my little blog post would fire up the Internet with the True Fan Boost concept. I did send out an e-mail or two, on the off chance that someone with a larger readership would push the idea. I actually got a response back from Kevin Kelly, but after rereading it a few times, I realized that I may not have been clear enough in what I was trying to accomplish.