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2012 | OriginalPaper | Chapter
What Happens to the Permanent Fund Dividend and the Rest of Alaska’s Unique Fiscal System as Oil Production Continues to Fall?
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The Permanent Fund Dividend (PFD) is the most unusual element of Alaska’s unique fiscal system. That system will confront special challenges as a government and economy organized around oil production face both fluctuations in the price of oil and a continuing fall in oil production in Alaska. Despite the popularity of dividends and the aversion to broad-based taxes in Alaska, the state’s fiscal structure will be difficult to maintain, particularly as Alaska’s oil production continues its decline from a peak reached more than 20 years ago.