In addition to pieces on this page and elsewhere, I write what began as a bi-monthly, and now has evolved into a monthly, column on oil, gas and fiscal policy issues for the Alaska Business Monthly. This is the eighth column, originally published in the August 2013 print edition and available online here.
In 1976 Alaskans passed a constitutional amendment establishing the Permanent Fund. The amendment provides in pertinent part that “at least twenty-five percent of all mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing payments and bonuses received by the State shall be placed in a permanent fund.”
Those here during that period attribute the passage of the amendment to two things. Continue reading