In response to “Alaska should stand firm on making oil companies ante up,” ADN Letter, Nov. 8.
Yes, the “easy” oil was gone. It was gone 40 years ago. Now, however, thanks to technology, there is more “easy” oil than there was back then. Presently some of this is being produced in North and South Dakota.
The costs for producing this oil may be relatively high, but the risks, compared to Alaska, are miniscule.
It is fundamental to a rational business decision that the reward for an investment be commensurate with the risk involved. Inordinate risks require inordinate rewards.
Take it or leave it, you say? How full is that big pipeline running these days?
So Alaskans — for the future taxes that we will be paying and for the PFD that we won’t be spending — at least those greedy oil companies won’t be stealing our precious oil.
While those gullible fools in North and South Dakota will be eating our lunch.
— Ron Michelson