Alaska court upholds cut to checks from oil-wealth fund

[Judi Lynn]

Source: Associated Press

Becky Bohrer, Associated Press
 Updated 4:28 pm, Friday, August 25, 2017

JUNEAU, Alaska (AP) — The Alaska Supreme Court has ruled that Gov. Bill Walker acted within his authority last year in reducing the amount set aside for checks from Alaska's oil-wealth fund to state residents.

The decision released Friday sided with the state, as a lower court had, in the dispute over Alaska Permanent Fund dividends.

The case was brought by Democratic state Sen. Bill Wielechowski and two former legislators, who argued that the Alaska Permanent Fund Corp. last year was required by law to make available nearly $1.4 billion from the fund's earnings reserve for dividends, despite Walker's veto.

Walker, a one-time Republican no longer affiliated with a political party, had cut the amount available for dividend checks after lawmakers failed to agree on a plan to address a multibillion-dollar state budget deficit.

Read more: http://www.chron.com/news/us/article/Alaska-court-upholds-cut-to-checks-from-11958490.php

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Gov. Bill Walker

[roamer65]

1. Lower oil prices + Prudhoe Bay field depletion.

It's so bad now that they constantly have to "pig" the pipeline to keep from plugging up with wax from the lesser quantity of oil.

It cools faster and deposits more wax on its travel.