Proposed Federal-State Oil and Gas Lease Sale; Beaufort Sea Volume 1

Proposed Federal-State Oil and Gas Lease Sale; Beaufort Sea Volume 1

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 197? edition. Excerpt: ...royalties, production taxes, property taxes, and corporate income taxes. d. State Expenditure Role: Because of the central role of State and local government in the Alaska economy and because the behavior of these governmental units depends largely on policy choices, the treatment of expenditures by State and local governments is a central feature of any development scenario. During the projection period, the State government is projected to receive real current dollar revenues from oil development which far exceed current levels of expenditures. The rate and the composition of these expenditures will serve to determine not only direct employment in the government sector but--through the multiplier effects of such expenditures--will have impacts on all endogenous sectors affecting the growth of employment, income, and prices, and influencing migration into the State. Two factors determine the current framework in which State expenditure policy will be determined. First, revenues will follow closely the pattern of oil and gas production from Prudhoe Bay. Second, the permanent fund, adopted in 1976 as a constitutional amendment, will place new constraints on the use of certain petroleum revenues. The permanent fund established that a minimum of 25 percent of all mineral lease rentals, royalties, royalty sale proceeds, Federal mineral revenue sharing payments, and bonuses received by the State would be placed in the fund. These forced savings are only a portion of the revenues available to the State. Revenues accumulated in the general fund will be greater than in the permanent fund for most of the forecast period. These changes in the structure of State spending limit the usefulness of past spending policies in determining the spending rules to be...show more

Product details

  • Paperback | 128 pages
  • 189 x 246 x 7mm | 240g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236518969
  • 9781236518965