Alaska dividend model for Iraq

["William B. Ryan" <william_b_ryan@xxxxxxxxx>]

Senate Foreign Relations Committee, April 29, 2003

Approximately 1.5 hours into the testimony:

Senator George Allen, Virginia:  ...I would like to
hear any comments or thoughts you may have on the
constitution in Iraq of creating something like the
Alaska Permanent Fund so that the people of Iraq
indeed are the owners of not only their government
but also of that key resource [referring to oil]

Secretary Powell:  ...the clear point is that if the
people, if they had access to that money directly, as
in the case of Alaska...a decision will be made to
start a business, or educate a child, or build a
house, or buying clothing--it will circulate in the
economy.  It will contribute to the economy...

Senator Allen:  ...I'd suspect it they would hold
some sort of plebiscite or referendum on it they'd
like to get a little dividend...

Secretary Powell:  I'd think I would bet on it.
--

http://video.cspan.org:8080/ramgen/kdrive/iraq042903_nato.rm

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