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Tuesday, July 29, 2014

How Much OIL?


So, now the readers want to know what it means for the State of Alaska, with this 17-BILLIONth Barrel of Oil extravaganza? OK, here it is. The state gets its share of the $2-Trillion value of that oil extracted and sold, through a resource production tax. Of that $2T – how many zeros? - the state has garnished $119-Billion. About a 1/3rd of that remains in the Alaska Permanent Fund Reserve – the rest was spent foolishly by politicians. And for US  Alaskanized citizens, we garnished about 30Mirco%, in that PFD welfare program! That means 0.000030%, not much.

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