Alaskans Get $900 This Year in Oil Checks
They got double that before the recession hit
By Newser Editors and Wire Services
Posted Sep 18, 2013 5:46 PM CDT
Acting Alaska Department of Revenue Commissioner Angela Rodell announces this year's amount.   (Dan Joling)

(Newser) – Nearly every Alaska resident will receive $900 for their share of the state's oil wealth, a nice sum to be sure, but nowhere near the amount of the checks before the recession. The amount of each person's check is based on a five-year rolling average of worldwide markets, which includes the recession years that were more widely felt outside Alaska. This year's amount was a bit larger than last year, but still far from the record payout of $2,069 in 2008.

The yearly Permanent Fund Dividend amount is made with great fanfare in downtown Anchorage. Acting Revenue Commissioner Angela Rodell made this year's announcement, saying nearly 593,000 Alaskans will receive their checks next month. The money, about $576 million total, will be distributed Oct. 3. About 507,000 Alaskans will receive the money through direct deposit that day, and another 86,000 checks will be mailed from Juneau for those that chose paper delivery.

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Sep 21, 2013 10:20 PM CDT
The Alaska Permanent Fund was conceived by Republican Governor Keith Miller during his 1976 term and implemented by Republican Governor Jay Hammond during his term. Alaska considers the oil as belonging to the people as part of the state's natural resources and each year every legal resident of the state gets a check in the same amount as a "profit sharing" or payment for the oil extracted. The amount of the check may vary each year but each resident receives the same amount.
Sep 19, 2013 6:34 AM CDT
Another CONservative welfare program run amok
Sep 19, 2013 5:48 AM CDT
Alaskans are experiencing what Socialism is like and for sure they aren't going to give the money back.