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The Strategy of Alaska in Saudi Arabia - Term Paper Example

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The purpose of this study “The Strategy of Alaska in Saudi Arabia” is to establish the efficiency of introducing tax revenue in Saudi Arabia on oil revenue. The recent global decline in oil prices has raised the concern as to whether Saudi Arabia should introduce tax to the citizens…
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The Strategy of Alaska in Saudi Arabia
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Download file to see previous pages Alaska has an established Alaska Permanent Fund (APF) that requires the government to invest at least a quarter of the revenue it earns from oil on behalf of its citizens. From these investments the APF has diversified mutual fund that has accumulated into a huge resource base in form of asset to the tune of about $28 billion dollar according to a report released in 2004 (Alaska Oil and Gas Association, 2015). Each year the government injects some amount from the oil revenue while they pay a dividend to the citizens annually through the Permanent Fund Divided scheme. For instance, in 2014 the government paid its citizens a total of $1,884 for each qualified Alaskan. The funds are managed through Alaska Permanent Fund Corporation.
            In Alaska, oil revenue contributes about 92 percent of the total government revenue as of the year 2011. Half of the corporate shares are in the ownership of private and public pension and retirement schemes while individuals own 20% while 27% is owned by asset management companies and financial institutions (Alaska Oil and Gas Association, 2015). The board members and corporate executives own the remaining 3%. This has an implication that when the oil sector is performing well the benefits trickles down to the citizens equitably either through returns from mutual fund investments, pensions, etc. (Dyer & Al-Ghwell, 2012). Therefore, oil earnings benefit the citizens in many way including dividends, better economic growth from states and federal revenues, capital projects, and employment opportunities. ...Download file to see next pagesRead More
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