Oil revenues down on Obamas watch; Native Americans feel loss

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Dividends are distributed annually to people who have lived in Alaska for at least one calendar year.

The amount is based on a five-year rolling average of the $47 billion Alaska Permanent Fund's investment earnings.

This year's payout wasn't expected to be much.

In the Inupiat Eskimo village of Deering, tribal administrator Dolores Iyatunguk said her dividend is going toward credit card bills and student loans.

In the tiny village 520 miles northwest of Anchorage, the cost of living can be prohibitive, with diesel fuel currently $6.50 a gallon, for example. Iyatunguk isn't alone in using the money for necessities, although a small gift to herself would be nice.

"I was thinking about getting a winter jacket," she said. "But that can probably wait."

Last year's dividend was $878 per person, the lowest since 2005.

Alaska has no state income tax, but residents must pay federal taxes.



http://www.foxnews.com/us/2013/09/18/most-alaskans-will-get-00-for-2013-share-state-oil-wealth/#ixzz2fIWGuQS2
 
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