Unemployment under Republican Vice-Presidential candidate Sarah Palin has soared during her tenure as Governor. Alaska's unemployment rate is now 20% higher than the national average. Additionally, Alaska now has one of the top 10 unemployment rates in the nation.
Despite record profits for oil companies drilling in Alaska, unemployment has continued to soar. $7.6 billion of the estimated $8.5 billion in Alaska’s state tax revenue comes from fees paid by oil companies. (source: Artvoice.com). Additionally, Sarah Palin has recently stated that "it’s God’s will that we drill." However, corruption and payoffs by big oil have been rampant in the Alaskan government, with the convicted former chairman of a major oil company having spread $400,000 throughout Alaska's government (including to Sarah Palin's campaign). Palin was previously in charge of Alaska’s Office of Oil Affairs.
The top 3 oil companies stand to profit handsomely from the increase in the price of oil, with cumulative record profits of approximately $70 billion. The U.S. Economy meanwhile is facing its worst recession since the Great Depression, with unemployment soaring as oil profits soar in Palin's home state. Meanwhile, Palin continues to advance the cause of big oil, encouraging additional drilling in her home state.
According to the Center for Responsive Politics, a Washington, D.C. watchdog group, oil companies and the people who run them give between 75 percent and 80 percent of their campaign money to Republicans like Palin and McCain. (source: Artvoice.com).
Source: Bureau of Labor Statistics
