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Lindsay Newland Bowker

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A People's Fund To Share all Profits from Natural Resource Extraction on a Per Capita Basis (like the Alaska Permanent Fund)

Don't the profits of oil companies tell us that we are not getting a big enough cut of the value of the natural resources extracted?

Under the permit system for extraction on public land we collect a small fee to allow the exclusive rights to exploration and extract a small royalty on every barel or ton that is extracted. None of it is directly redistributed back to the people and the lions share of value goes to the permit holder...except in Alaska where every person is paid a dividen every year. Alaska is practically a tax free state and the dividend covers all federal taxes due for many citizens.

Subce funds, called "sovereign Welath Funds" exist in two other states but don't pay dividends to each person in the state.

But with the dividend model it is possible we wouldn't need food stamps, or welfare or public housing? That there is enough wealth in our natural resources to provide a thriveable life with food and housing security for all?

So what do you think. Want one in your state? Want one at the Federal level as truman once proposed?

Can we force this by refusing at th elocal level to allow any use of natural resources not srving local communities..not directly benfiting them. The town of Shapleigh, Maine successfuly blocked huge MNC Netsle from extracting their town's water. Can we do that across the board?

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  • Nov 5 2011: interesting to see what is happening in the US. In Fiji we are going through the same processes where all our resources that used to be shared and sold within the domestic market and exported are now having to pay the State and the landowners royalty. companies that are using our water, mining our minerals and exploring to look for oil.

    I still feel that not enough is given to the landowners - the working out or calculations do not take care of the future generation who will have to live without being able to use their land to plant their taro, vegetables, fish from their shores etc.
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      Nov 6 2011: Api,

      First, welcome to TED Conversations. So glad to have you here and so happy that this conversation has brought you here

      .You are an amazing woman with great courage.

      I found this excellent Mother Jones Article on FIJI Water that includes a little background on the closing of the gold mine, the military junta and the great poverty in Fiji. I am embarrassed and ashamed that it is the democrats and leaders like Al Gore, Hillary Clinton and our own President who indulge Fiji water and have it on tables in frontt of them at conferences on environmnetal issues, issues of social and economic justice

      http://motherjones.com/politics/2009/09/fiji-spin-bottle?page=3

      The author of this article for Mother Jones said she was almost arrested when she was there doing this story..that the military police had intercepted her emails.Is there no emergent leadership in Fiji that can return democracy there and bring a modelof democracy better than what we have here in the U.S.?

      What do you think of this idea of a sovereign fund..a fund for the people from which the income from natural resources would be distributed back to the people on a per capita basis?

      It's appalling what foreign interests have done to Fiji. I hope one day your gold and your beautiful living water will be under the mangement of the people of Fiji and for the benefit of the people of Fiji.

      Thank you so much again, Api, for joining this conversation.

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