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Posted: Monday, October 15, 2012 12:00 am | Updated: 11:36 am, Mon Jan 21, 2013.

Oct. 13, 2012

To the editor:

Every Alaskan should be concerned about the oil revenue give away proposed by Gov. Sean Parnell. This plan outlined in HB 110, and voted for by Reps. Tammie Wilson and Alan Dick, would cost Alaskans about $2 billion per year in oil revenues.

Thankfully for Alaskans, Sens. Joe Paskvan and Joe Thomas questioned the wisdom of giving away this much money for nothing in return and managed to stop this bad idea.

Parnell’s plan is not an investment. We get nothing in return. This is not about new oil. The state of Alaska pays 80 percent of exploration costs and is the largest investor on the North Slope. Parnell’s plan would provide huge reductions in revenue from Prudhoe Bay and Kuparuk. These fields are the largest, most profitable oil fields in America’s history. We do not need to hand over our share to get this oil in the pipeline.

HB 110 was stopped by the efforts of Sens. Paskvan and Thomas last year, but the former head of government relations for ConocoPhillips, now our governor, Sean Parnell, will try again this year. His hope is that a gerrymandered Legislature will comply with a fleecing of historic proportions.

Expect your local property taxes to go up, your dividend check to go down and the general Alaska economy to have $2 billion less per year if the politicians who supported this legislation are returned to office. Vote for the candidates who oppose this vast transfer of wealth out of Alaska. Vote for Thomas, Paskvan, Guttenberg, Miller and Kawasaki.

David F. DeLong

Fairbanks

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