| The Ghost of RubangB said: Palin's state reaps the windfall profits McCain decries at the San Francisco Chronicle.
That's funny. I thought our economy was doing poorly. I got a stimulus package of $300 this year. Every single person in Alaska gets 10 times that much?
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As oil prices approached (and then passed) $100 per barrel (pretty much) everyone in the world started to freak out ... In regions like Alberta and (I suspect) Alaska, which generate a lot of the oil that is used in the world, there were large groups of voters who started to demand that royalty rates on oil should be increased. Being that resources are owned by the province in Canada, and by the State in the United States (from my understanding), it is up to the province/state to determine what royalties they recieve and how they spend them; and they will face the consequences (locally) if they increase the royalty rates too high.
If you want to see the difference royalty rates make, look at oil and natural gas exploration between Alberta and Saskatchewan ... In spite of having similar quantities of resources, it looks like the resources end at the Alberta border. It has only been in the past couple of years when oil exploration in Saskatchewan has really taken off mainly due to the moronic actions of Ed-Stelmach in Alberta and the explosion in oil prices.
