TED Conversations

Lindsay Newland Bowker


This conversation is closed.

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?


Showing single comment thread. View the full conversation.

  • Nov 7 2011: Bula Lindsay, thank for the warm welcome and your note on the water and gold resources here. At present, there is increased taxes on water harvested so that money will go to the basket of funds to be distributed to the landowners.
    A number of other mineral resources explored recently have had payout to the landowners and to the government. The income obtained is really not distributed per capita but to the landowners to look after developments like education, health, etc.

    I think that the interim government has found out how the previous investors have done to the earlier investments that were approved by previous governments, where the cream is harvested and the country is left with close to nothing, eg. the tourism industry investors.

Showing single comment thread. View the full conversation.