This is my first diary.
Today is the day that the first Permanent Fund Dividends and "Resource Rebates" are directly deposited in Alaskan's bank accounts. This is for all those who qualify as full-time Alaskan residents during 2007 or were born in Alaska during 2007 and lived here the remainder of the year. Those who receive the funds via mail will get those later in the month. It is my belief that Obama supporters might want to tap into that windfall ($3269 per person) to give a bit more to the Obama Campaign--the campaign with an actual emphasis on cutting back our dependence on oil. (More Below)
The Permanent Fund has been addressed here previously. The Wikipedia article has some good info in it. In short, we have lots of revenue from oil in this state. Money is set aside and invested in our "Permanent Fund" to take some of the funding out of direct government control and so they can't spend all of it as one time. It's put in "The Permanent Fund." And, Alaskans, as long as you lived here as a resident for the entire previous calendar year, get a dividend check. If the price of oil goes up along with Oil Company revenues and State of Alaska Revenues and, therefore, the amount invested -- then the PFD (Permanent Fund Dividend) goes up. And, if the price of oil goes down, then so does our PFD. So, while we have whined and moaned with the best of them that we've been paying "too much at the pump" we do get an indirect bonus at this time of year that makes us forget about that and makes us think we can afford our large SUVs for another year.
The "Alaskan Resource Rebate" is brand, spanking new this year. You can see an article from the Anchorage Daily News when it was voted on here. In short, the price of oil has been so high, we're flush with money at the state level and they wanted to give everyone a break to offset the higher energy costs. There was talk about the state investing more money into alternative resources (but did we really trust our govt. to invest it wisely and, really, who doesn't like "free" money from your state govt.). There was talk about giving credits for the gas and electric companies or for fuel (but it was unclear how this could happen without investing in a whole different distribution system). There was talk about giving more to persons in rural Alaska, "the Bush" (but Alaskans are really big on perceived fairness whether or not it really is fair.).
In the Anchorage Paper, there have been two editorials noting the various energy saving ideas that families could do with their "Resource Rebate" -- change over their light bulbs, weatherize their house, tune up their cars, buy a bicycle to cut down on driving, buy energy efficient appliances, etc.
What if all Alaskans gave $50 - $100 (or more!) from their Energy Rebate to the candidate who has the best long-term plan for getting our country off of its dependence on foreign oil? That candidate would be Barack Obama.
I think it's correct to say that, looking at the financial politics of Alaska, the McCain/Palin ticket is one that needs to be taken seriously. Their ties to "Big Oil" and mantra of "Drill, Baby, Drill" could mean an immediate financial boon to the coffers of our state. The more drilling we do in Alaska, the the more revenue we have to invest, the bigger that PFD check is. But, as with much of the Republican platform, it is not a long-term solution. Under Barack Obama, our country has a greater chance at looking at the long-term realities of energy use in our country and could be a leader in the quest for alternative resources. Under McCain, we're going to end up even more dependent on others in the future.
Some comments about the PFD and Energy Rebates:
- Many Alaskans put some of it away for college education for kids.
- Many Alaskans use this to buy their "big toys" -- snow machines, skis, ski passes, airline tickets.
- Alaska Airlines used to run PFD specials at this time and this is when Alaskans would all buy their tickets to "go Outside" (leave the state).
- You can see the "PFD SALE" signs all over Anchorage at this point.
- This is taxable income and will push some families even into another tax bracket.
- The PFD amount has been variable based on oil revenues. This year, at $2069, is the highest it's been. The lowest it's been is $331.
- We need to remember that the PFD is not "directly" tied to oil prices since it is based on money that is invested stocks and other investments.
As far as I know, all of the information above is factually correct. Please correct me if I'm wrong.
After writing this diary I have a great respect for those who write one of these a day and apply great research to the task. Your work in furthering dialogue on progressive issues is truly appreciated. It shows that many of the folks here are well-informed and are keeping others well-informed as well. May this diary, in whatever way, do some of that as well.