Nicholas Newman Eniday 12 August 2015
A few Oil & Gas rich regions are studying the possibility to create a permanent fund with royalties from energy. The model they are considering is the 30-years-old Permanent Fund Dividend (PFD) in Alaska. Nicholas Newman explains how it works, how it has reached a $52 billion value and how many organizations across Alaska benefit from PFD
Today some 540 organizations across Alaska including the Anchorage Folk Festival and the Alaska Museum of Science and Nature benefit from the Alaska Permanent Fund (APF), a sovereign wealth fund created in 1977 to receive 25 percent of the State’s oil royalties. Each year, the fund’s investment profits are distributed in the form of a dividend to residents who are able to make donations for good causes via the State’s Pick Click Give system. The APF is perhaps unique in paying a portion of its income directly to each Alaskan resident.