Alaskans face a crucial financial decision on Nov. 3 with Ballot Measure 1. Voting yes is no question in Alaska’s interest. Corporate interests, whether they be the oil and gas corporations or Native corporations, want you to vote no. The reason is that voting yes will decrease their profits. The share of oil wealth from oil and gas in Alaska that goes directly to Alaskans depends crucially on this vote.
The state is in a fiscal crisis, maybe the worst it has seen since statehood. I was raised in Alaska since the 1960s, and I don’t want to see us lose what we have. Our oil wealth should, as Democrats and Republicans (e.g. Wally Hickel, Jay Hammond, Bill Egan) have said before, go to Alaskans.
SB21 was a legislation developed by legislators on the pretext that incentives are needed to keep the oil and gas industry in Alaska. What wasn’t mentioned is that SB21 puts the profits into corporate pockets resulting in drastic reductions in revenue to Alaskans. With SB21, the oil tax credits, the benefits accruing from new oil production, all result in more money to oil companies and less to Alaskans.
Especially at this time in our history, we have to make sure that Alaskans get their fair share. Otherwise many of the benefits and institutions we have built will very likely be destroyed, such as the University of Alaska and many other parts of our society that we have built since the 1960s. Read carefully the information presented by both sides and the numbers presented in state revenue resource reports that show the large credits given to the oil industry and corresponding shrink in our revenue.
Charles Barnwell
Homer
Have something on your mind? Send to letters@adn.com or click here to submit via any web browser. Letters under 200 words have the best chance of being published. Writers should disclose any personal or professional connections with the subjects of their letters. Letters are edited for accuracy, clarity and length.