With the price of oil now hovering around $117 a barrel (as of March 25) and the state coffers flooded with billions in unexpected revenue, an online petition is urging the Alaska Legislature to approve a full, statutory Permanent Fund Dividend payment for all eligible Alaskans.
“The people of Alaska have been shorted on our PFD payments since Walker vetoed half of it in 2016,” the petition begins. “Every year we have heard ‘we can’t afford it’ from the halls of Juneau. This year, with the surge in the price of oil, and the record earnings of the Permanent Fund, the claim that ‘we cannot afford it’ rings hollow.”
Posted on Change.org by Linn McCabe (wife of State Rep. Kevin McCabe, R-Big Lake), the petition notes that a convergence of forces has made a full PFD all the more urgent for Alaskans.
“Inflation, the fallout from Covid, the high cost of fuel, and predicted food shortages, all converge to drive home the point that there is no better time than now to ensure that Alaskans can take care of themselves,” it states. “We urge ALL legislators to pass the full PFD. There is no greater special interest than the Alaskan people.”
With unexpected oil revenue flooding the state coffers to the tune of a $3.6 billion increased revenue forecast over this year and next year, Gov. Mike Dunleavy is calling on lawmakers in Juneau to issue $3,700 Permanent Fund Dividends to all eligible Alaskans.
Last week the State House Finance Committee rejected an amendment by its Co-Chair Rep. Neal Foster (D-Nome) to issue full statutory dividends of $4,200 to each Alaskan.
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In a March 15 notice, Dunleavy asked the Legislature use some of the surplus to provide immediate relief to Alaskans to the tune of a $3,700 PFD, still $500 short of the full payment called for in state law, but far larger than last year’s $1,114 which was approved by the Legislature.
“Rising oil prices are benefiting government finances and hurting Alaskans,” Dunleavy said. “We must get funds into the hands of Alaskans now when the bills are due, not in a month’s time.”
Deputy Commissioner of Revenue Brian Fechter said current market conditions present a “tremendous opportunity” to provide relief to Alaskans while still putting “billions into savings to deal with future price volatility.”
The Unrestricted General Fund revenue forecast has been increased by $1.2 billion for FY 2022 and $2.4 billion for FY 2023. Forecasts for revenue have also been increased for all years beyond FY 2023.
“Under the 10-year outlook, we can have surpluses while paying the PFD,” Dunleavy said. “We can also rebuild our savings with these surpluses in the range of $11 billion over ten years, based on a conservative forecast of $70 plus per barrel to 2031.”
The revenue forecasts are based on Alaska North Slope crude oil prices of $91.68 a barrel for FY 2022 and $101 for FY 2023, stabilizing at $77 by FY 2031, but with far greater overall production.
17 Comments
When, oh when are we going to use some of our oil windfalls to move our State capital to a location where us “peons” have access to our legislative halls? It is definitely to the benefit of legislatures to keep us out of the halls of OUR government.
Your correct! We’ve voted 3 times to move it but two reasons keep it in Juneau. #1- the big money people all bought land and built building to rent at an outrageous price to tge state to house the legislators while in session. They can’t buy land in Willow where we voted it twice to be moved to. To many (peon’s) bought most of the land their so they couldn’t. No profit no move. If you remember a few years ago a couple legislators took it upon themselves to build the glass building on 4th Ave in Anchorage and almost had some serious problems because of it. So now to help out the city of Anchorage picked up the tab for it and tge APD is in that building. #2- the play boys/girls can’t have the secretary or pages in Anchorage their wives or husband’s might walk in on them . With being in Juneau they have the flight time to clean up and remove evidence before whoever shows up. This was in the news some time ago when they still reported the news. After the story’s broke we never heard much more about it. So there you have it! Hope it helps you understand our position in Alaska. Your either ultimately rich or poor. There is no middle class anymore! Rich hate the middle class.
Ok I have a question, why are we paying so much for gas at the pumps? Last time when oil got to its highest ever (2008 at $140 a barrel) we only paid $4.39 a gallon or there’s about depending where in Alaska your at. Now it’s only $117 a barrel as you report were paying $4.59-4.89a gallon. Why isn’t the price the same as before? GREED! Who’s pockets are we lining this time? Why do Alaskans put up with this B.S.? I’m open to anyone actually answering this!
U.S. crude oil value fell 7% Monday and is down another 1+% today.
It’s the LAW to give a FULL PFD
End of story
BAM!
Give me back my mineral rights if your going to rob me of the PFD.
Where is the accountability?
If our current governor (Miller) Dunleavy would pull up his pants and stand for the people there wouldnt be such a problem in my view. Also as stated above it’s the law to give us our FULL dividend. Last but not least move the capital, the people have spoken 3 times. If we dont demand what we voted on to happen then…. well…. might as well get on your knees Alaska
If our current governor (Miller) Dunleavy would pull up his pants and stand for the people there wouldnt be such a problem in my view. Also as stated above it’s the law to give us our FULL dividend. Last but not least move the capital, the people have spoken 3 times. If we dont demand what we voted on to happen then…. well…. might as well get on your knees Alaska
Yes, we voted to move the capital. To Willow, but there are other locations. Could go to PT. McKenzie, but the elite bought up most of that land when they expected the bridge from Anchorage. Obey the law regarding the PFD?? Only us little people obey the laws anymore.
Ask..? No.. Petition for a full PFD, back-pay for previous shorted PFD’s, and term limits for state legislators. Petition to put it on the ballot and lets see who is in charge, the people of Alaska or politicians. Let Alaskan’s vote on it and watch politicians heads explode. 😉
I would be happy to collect signatures on a petition as I’m sure many would. Is there anyone who knows how to write it?
Move to Willow or South Central is not going to happen. What needs to happen is we vote to move our reps and sens into our districts. If there is one thing that COVID did for us is teach us that business works just fine when the employees work remotely. Very few need to be pubic facing, and policy makes are definitely do not need to meet in person. We setup a measure to eliminate the legislature in Juneau, keep the governor there for all I care, and move them into their own districts. We also eliminate Juneau perdiem.
This does the following:
– puts our elected officials within our individual reach, thus making it harder for big money and big business to have the upper hand
– makes sure all votes are electronically counted, whether by a voting system or digital video
– reduces the enrichment of Juneau only due to perdiem.
– it also would push a better delivery of services to the villages when networks have to be extended to their location, a better use of state funding.
COVID was a wonderful pearl that was given to us, now let’s use it to move our workers (not rulers or overlords) back home and make sure they remember who they work for.
Walker broke the formula and did any in the state step up to fix it?? Of course not, they dont care, they never have. Pass this petition along so every Alaskan has the opportunity to sign it.
Joel Davidson, Alaska Watchman, I truly appreciate your articles. They are timely and pertinent to what is going on in our state. I have a question for you – With current inflation, PFD grab, prediction of food shortages (especially in S.E. Alaska!) has there been an investigation into the great numbers of people leaving Alaska? And how that will impact the state? I am witnessing lifelong Alaskans leaving due to the cost of living increase, political corruption, and concern for families. Young people can’t afford to stay here unless they’re working 2-3 jobs. I’m just curious to hear your take on this issue. Thanks!
“F” the PFD why isn’t the criminal in charge drilling ?????
Joel Davidson, Alaska Watchman, I truly appreciate your articles. They are timely and pertinent to what is going on in our state. I have a question for you – With current inflation, PFD grab, prediction of food shortages (especially in S.E. Alaska!) has there been an investigation into the great numbers of people leaving Alaska? And how that will impact the state? I am witnessing lifelong Alaskans leaving due to the cost of living increase, political corruption, and concern for families. Young people can’t afford to stay here unless they’re working 2-3 jobs. I’m just curious to hear your take on this issue. Thanks!