Tuesday, September 25, 2012
The Permanent Fund relies on Big Oil
by First National Bank Alaska
A while back, when talking about who owns "Big Oil," we mentioned a 2011 study which found that 97 percent of corporate shares are held by public and private funds like 401(k)s, individual investors, asset management companies and the like.
What we didn't mention at the time was the Alaska Permanent Fund.
The annual royalty check received by most Alaskans every October is a beloved tradition, and has helped families pay for everything from college educations, to home remodels, to everyday basics like heating oil and fuel. But did you know that more than 20 percent of the Permanent Fund’s top 50 stock holdings is made up of oil and gas companies?
That's right. When these companies make money, Alaskans benefit from a good investment. Fostering a healthy, high-performing Permanent Fund is another reason why Alaskans have good reason to celebrate oil and gas companies’ solid financial performance.
For more information about the mutually beneficial relationship that Alaskans share with the Oil & Gas Industry, visit the Alaska Oil and Gas Association at http://www.aoga.org