Let me see if I understand this correctly. Hilcorp is proposing to purchase a multibillion-dollar asset of BP in Alaska and they do not want to disclose their financial records to the state of Alaska, for fear it would put them at a competitive disadvantage. What nonsense!
If any person tries to buy a house, car, piece of real estate, etc., the bank typically runs a complete credit/employment check on the potential buyer. This is to verify that the buyer has the money to pay for and maintain the purchased asset — does Hilcorp have the kind of money it takes to clean up an oil spill like Exxon Valdez or the Gulf of Mexico disaster? It’s preposterous to OK this sale without assuring Hilcorp’s financial soundness. The Regulatory Commission of Alaska is making a grave mistake by allowing this to happen; it’s simply not a sound business decision.
I wholeheartedly agree with Phillip Wight of Alaska Public Interest Research Group — “Alaskans are being denied information we need to be good stewards of our resources.” Another business-friendly decision brought to you by money-means-everything politicos. Wake up, Alaskans.
— Mike Gogolowski
Anchorage
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