So you want to repeal the oil tax incentive. Are you related to the people who killed the goose that laid the golden eggs?
The oil companies have financed this great state for a lot of years, and have spent untold billions to do so.
There are easier places to drill for oil than the Arctic, and I can assure you that if this agreement is repealed, they will move on and cease to invest in our economy. The oil companies need to make money in order to have the money to continue to explore and drill (at great risk).
In business, it is necessary to understand what the rules are, and when they change, it is very unsettling and disturbing. Since the incentive went into effect, investment has increased and more is planned. To change the rules now would be like a breach of contract. Sure, we may make more money for the state right now, but down the road a ways, the pipeline will become less full, more money will be required to be provided by other entities (the tax-payers) and Alaska will no longer be in an enviable economic situation.
Just think what our state would look like if the oil companies move elsewhere (like North Dakota). Do you really want to start paying a state income tax again? And give up your PFD? Please think objectively and vote no on Ballot Measure 1.
