12/02/13 - 2:40pm
A state that is 90 percent dependent on oil revenues cannot afford to lose 200,000 barrels of production each day — and continue to prosper.
Yet that has been the state’s fate under the ill-advised oil tax policy known as ACES.
Since ACES passed in 2007, North Slope production has fallen almost 31 percent while production is up everywhere else in the nation. ACES caused Alaska to miss out on the oil boom brought about by high oil prices.