Former Alaska Gov. Jay Hammond
(1922-2005) produced the video, "The
Iraq Plan," about an Alaska-style dividend for Iraq. Jay said, "Had
we not created a permanent fund here in Alaska ... no doubt those
would have all been spent in the traditional manner that has gotten
states and nations into trouble."
"To date we have a program
which each year sends a check to each and
every Alaskan ... that gives them a sense of ownership. It also
them to promote healthy development and to ensure that the maximum
from that natural resource development is equitably distributed.
"In many instances, states and
nations that have had enormous amounts
of oil wealth flow through their country have found themselves worse
The reason being that a few people at the top of the heap reap the
and the little guy ... sees virtually nothing. Also, there's an
on the part of politicians ... to spend every dollar they can get their
fingers on. The dividend program has created ... a militant ring of
that surrounds the Permanent Fund. Whenever the politicians wish to
it, the shareholders rise up in outrage, in protest."
The struggle in Iraq is "...
evidence of the frustration and difficulty
in coming up with any method and means to effectively offset the
that is going on in that country today."
Hammond said "... there is
another approach that I would much prefer
... that in Iraq, they adopt a program similar to what we have done in
Alaska. Use their oil wealth to invest in spin-off dividends that would
impact each and every Iraqi."
With an Iraq dividend, "there
appeared to be the potential of establishing
in Iraq, a democratic, capitalistic mindset on the part of the people.
If they perceived it as our pipeline ... and that every time they
oil flow, it was money out of their individual pockets, there would be
a resistance to the type of thing that is occurring over there