It is as if Alaska’s political left cannot — absolutely will not — shed its cut-your-nose-off-to-spite-your-face hatred of the oil industry no matter its corrosive effect on the state and its future.
The industry, the left believes, is a cash cow that can be milked willy-nilly and without consequence whenever our betters decide Alaska’s bloated government needs even more cash. In fact, the industry is the left’s go-to revenue fix, even before it begins thinking about shaking down ordinary Alaskans or fishing loose change from beneath sofa cushions.
It does not seem to matter that the mean ol’ oil industry already carries the state on its back — a $180 billion return on our resources since statehood — or that the dismal science of economics would tend to make you believe taxing more sometimes gets you less. It does not seem to matter that there have been seven significant oil and gas tax law changes in the past dozen or so years. After all, who really needs fiscal stability or certainty in a business that plans and invests years ahead?