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Don’t weep for ‘big oil,’ weep for state’s future

Posted: Wednesday, May 10, 2006

Despite the “snake oil” ad campaign don’t say “Poor Big Oil!” and weep for them.

Big Oil was profitable at $10 a barrel. They hurt at $6, so they cut people wholesale in the 1980s price crash. Big Oil did not weep for their former employees who lost homes and possessions.

No Big Oil weeping that before the cuts, Kenai had Nordstrom’s, a full Kenai Mall, Braun’s Sporting Goods, Malston’s clothes, etc., and big name shows regularly played Kenai when they came to Anchorage. All gone!

When oil prices went back up, Big Oil hired contractors who paid their employees about one-third paid former Big Oil employees.

Big Oil decided in the early ’90s all contracting be done through VECO, driving smaller contractors out of business. No Big Oil weeping for these contractors and their employees!

Weep not for only 36,000,000,000 profits for Exxon and $400,000,000 CEO retirement, but for Alaska fisherpersons still waiting 17 years after Exxon Valdez.

Weep not that Big Oil’s South American assets and oil and gas fields are being nationalized, and they’re getting booted worldwide. Alaska is a safe investments haven.

Weep only for those Alaskans who have borne the pain.

Big Oil will not leave because Alaska gets its fair share or reduce their investments. When the oil and gas is gone, they’ll leave behind their Alaska shell corporations and the oil field messes and environmental problems. Weep for our grandchildren!

When Alaska’s oil is gone, revenue stops. Alaska needs a greater share now to invest to pay for public services when that day comes. No Big Oil weeping for Alaskans who will otherwise have to pay huge personal taxes for these services.

Weep because our governor and legislators are not fulfilling their oath of office.

William Phillips

Kenai



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