In the early 1970s after the North Slope discovery, but before receiving the largess that oil development would bring, my dad foretold Alaska’s future: “As big businesses go, the oil companies are pretty good corporate citizens, but eventually they will own our Legislature,” he said.
After reading about the proposed oil tax revisions, I have realized how prophetic those words were and how weak we’ve become. Seemingly, we have a legislative majority that doesn’t understand its fiduciary duty is to Alaskan citizens.
Despite words of restraint and reason from some elected representatives of both parties, the majority of our Legislature is charging into the open arms of the oil industry which is promising what?
I suggest that if the legislative majority cannot constrain themselves from passing this giveaway tax package, they at least follow Sen. Gary Stevens suggestion to add a sunset provision that will allow the new tax regimen to expire in five years. In those ensuing years, we will then be able to see how good our oil company corporate citizens really are.
— Gary Gantz