It was a simple calculation. Do we get tax revenue from additional oil production equal to or greater than the revenue that discarding ACES gives up? If the answer is “no,” or is unknown, then the vote to give billions of our oil dollars to some of the world’s largest and most profitable companies (i.e., Conoco’s billions in Alaska operations after-tax profits last year) should have been a no-brainer.
As Alan Boraas pointed out in his commentary on these pages recently, politicians who put oil company profits before the interests of all Alaskans, have sold us out. As Alaska was once owned by Seattle cannery companies, we are now an almost wholly owned subsidiary of Exxon.
Two or three years from now, when some of these same legislators come to us with the need to give up our PFDs, or more likely, the new need for an income tax, please remember the names of those responsible: Giessel, Bishop, McGuire, Coghill, Dyson, Fairclough, Higgins, Kelly, Dunleavy, and of course, Conoco employees Meyer and Micciche. Some of these we’ll have a chance at in the voting booth; others will no doubt be pulling down six-figure salaries at the oil companies they have so ably represented.
— Lawrence Ross