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To: Moominoid who wrote (69764)6/24/2008 3:42:58 AM
From: Snowshoe  Respond to of 74559
 
The Alaska Permanent Fund is well diversified and independently managed, so the money is relatively safe once the politicians transfer it into the fund. But the politicians have spent oil tax revenue directly on various pet state investment projects with mixed results. Things like hydroelectric dams have worked well, but gobs have been wasted on other ill-considered projects like dairy/barley farming and value-added fish processing plants.