Don't blame Gov. Bill Walker for cutting the dividend, blame former Sen. Mike Dunleavy and the state Senate Majority, who let the piggy bank run dry. They've been milking oil companies for campaign contributions for decades while refusing to make those companies pay what they pay other countries all around the world.
Empty piggy banks can't pay dividends.
Here is something Alaska's voters need to think about. The country of Norway has saved up 20 times as much as Alaska from the production of four times as much oil. Their oil came from deep water. It was more expensive per barrel to produce and therefore their net profit per barrel was less.
The difference is they keep between 80 percent and 90 percent of the profits, leaving 10 percent to 20 percent for the oil companies. We do close to a 50/50 split, and then we pay oil credits to oil companies from our share.
If we had kept and saved the same share of profits as Norway, our permanent fund and your dividend would both be about five times bigger today.
Blame Mike Dunleavy and the Senate Majority. Not Gov. Walker.
— Ray Metcalfe
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