You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #20: You guys are so wrong it is not funny [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
DenaliDemocrat Donating Member (536 posts) Send PM | Profile | Ignore Mon Aug-08-05 06:59 AM
Response to Reply #14
20. You guys are so wrong it is not funny
The oil drilling in Alaska was happening on STATE lands. As residents of the state, we own the land. In the boom days, there was more revenue than the state could spend (if you could imagine that) Gov. Hammond decided that since the state lands belonged to the residents of the state, some benefit should come to the residents. They took the extra money and invested it, and paid the dividends to the residents...hence the Permanent Fund. Current oil revenue does not mean diddly to the permanent fund, it is the STOCK MARKET that matters. Over sixty billion dollars are invested on behalf of the residents of Alaska.
Printer Friendly | Permalink |  | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC