I hear that big oil companies are threatening to pull out of Alaska or severely reduce their spending here if the state raises their tax burden.
Let me see if I understand all of this. The price of gasoline and other fuels has risen nearly double in the past five years, and approximately 30 cents per gallon in the last 30 days with the promise of even higher costs to come. It still costs the same to produce a gallon of fuel. One of the major companies complaining about the tax burden earned $98.6 million in net profit per calendar day last year. One of them pays a top executive $100 per minute in salary.
I find all this whining and complaining about the possibility of increased taxation by the state of Alaska to be disgusting in view of these facts. Every company has the right to make a profit, but raping the consumers for obscene profits should be offset by taxes to help sustain Alaska’s economy. At least our legislators can fritter away the tax money into different areas of the Alaska economy instead of it all going to one or two oil company executives.
Give some thought to what the economy of America will be like with the even higher fuel costs that big oil is promising to us this year. If RV owners park their rigs or perhaps not even buy a new RV would mean little or no tourism throughout the country. Higher fuel costs means that likely many poor and elderly on very low income could freeze to death next winter because they cannot afford to pay for fuel. Some people may not be able to buy enough fuel to drive to work and could then lose their jobs.
If these events and others continue to occur, imagine what America’s economy could look like in the future.
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