Word: alaskan
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Dates: during 1980-1989
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Thus by the end of the year, most Alaskan taxpayers will get two different kinds of checks: 1) refunds on state income taxes already paid and 2) dividends from the state's oil revenue fund, in which unspent royalties have been invested since the first big oil-lease sale in 1969. Residents will get $50 for each year they have lived in Alaska since statehood in 1959. That means oldtimers whose residency dates back at least to then will receive...
...invested in stocks, bonds and other securities, the fund could prove even more profitable than expected, and future legislatures might increase the $50-a-year formula. Oil price increases could also continue to swell the fund. While most Americans complain bitterly every time OPEC members raise prices, Alaskans have reason to applaud. With the price of domestic oil now decontrolled, Alaskan crude can rise to the world level; thus the state's royalties will grow with each foreign price hike...
...Government controls, that Alaska alone has more oil than Saudi Arabia. It turned out that he was comparing oil already discovered in Saudi Arabia with oil that might someday be found in Alaska ?and even on that basis he got the figures wrong. The highest guess for possible Alaskan reserves is 100 billion bbl., of which only 9.6 billion bbl. are considered proven reserves. Saudi Arabia has 200 billion bbl. in proven reserves alone, and perhaps as much as 530 billion bbl. in possible reserves...