A lot of people are complaining about the oil tax giveaway; nothing could be further from the truth. I recently attended a speech by the head economist from Stewart Title.
His main points were Alaska was the only state that had a reduction in oil production in 2009-2011. He encouraged Alaskans to support a 25 percent equity interest in a gas line and to maintain the current tax structure if Alaska was to move forward and thrive.
The state is actually collecting more in taxes now than it was under ACES and the oil field is booming. Wake up, Alaska; of course the oil companies are protecting their interest but they’re doing pretty good by ours also.
Full disclosure: I do not work in the oil industry nor am I a contributor to any candidate or political party.
— Larry J. Imm