Iraqi Permanent Fund

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The Iraqi Permanent Fund, an "oil wealth savings account modeled after" Alaska's Permanent Fund, was pitched by Alaska's senior Senator Ted Stevens to President George W. Bush and former Secretary of State Colin Powell in 2003. [1]


"One more thing for the Coalition Provisional Authority and the Iraqi Governing Council to consider: the creation of something like Alaska's Permanent Fund to flow some percentage of state oil revenues through to each citizen. Huge oil revenues have produced wasteful, tyrannical states. Flowing through some of the money to citizens would provide a safety net and encourage the growth of a vibrant and independent private sector. Democracy requires not only a good constitution but a self-reliant people jealous of their rights. An Iraqi Permanent Fund would be a step in that direction." [2]

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