Iraq is on the verge of finding out whether it will succumb to the curse or defeat it. Norway offers an interesting model for the Iraqis to consider. Assuming things ever calm down, Iraq will decide how to use the nation's oil wealth to benefit its putative owners—the long-suffering Iraqi people.
More than a year ago, Steven Clemons of the New America Foundation suggested that Iraq duplicate the Alaska Permanent Fund. Established in the 1970s, the fund guarantees that at least a quarter of all oil revenues received by the state be invested on behalf of the state's hardy residents. It has grown into a huge, highly diversified mutual fund. According to its September 2004 report, the APF has about $28 billion in assets. Each year, it pays out dividends to qualified residents—$919.84 per person. And in many ways, it's a classically American approach—built on a concept of individual ownership and intended to spur demand and consumption. Last year, the fund injected about $581 million into the state's economy.
http://slate.msn.com/id/2108873/
HERE is another site that say's the same thing. And I did find more sites that said the same thing.
http://www.joelunchbuckett.citymax.com/ ... 425585.htm
Give the people of Iraq a direct ownership stake in their oil.
Form a corporation and give all Iraqui citizens equal shares.
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HERE is how the Dividend check works in Alaska, and will work the same way for Iraq's people.
http://www.boston.com/news/nation/artic ... th?mode=PF
Norway paids dividend checks to it's citizens too. BUT Saudi Arabia does not paid anything. neither does Russia
Saudi Arabia has been pumping far more oil than Norway and for a far longer time. But its oil revenues tend to flow into the bank accounts of the royal family—not into a segregated account to benefit the public at large.
