1. In 1976, the state of Alaska established the Alaska Permanent Fund, valued at about $54 billion in 2015, which primarily uses the returns from investing the proceeds of the sale of oil to provide Alaska residents with dividends (averaging $1,365 over the past 15 years). The Permanent University Fund in Texas (valued at $17 billion in 2014) uses proceeds from the sale of oil leases and royalties on state land as endowment funds for several state universities.
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3. Assess these policies from the perspective of economic sustainability.