Oct. 30, 2012
To the editor:
This upcoming election, voters have a chance to say “no” to the big tax giveaway. What we hear on the radio insinuates that “tax reform” will bring jobs to Alaska. This is a highly questionable proposition.
Giving the oil companies an extra $2 billion per year in revenues from Alaskan oil will, for sure, give them more money. They will decide how much to return to Alaska for jobs or investment. Some will go to shareholders, some to other places in the world that the companies need capital, some will go to bonuses for oil company executives. Whatever is left, if anything, might come back to Alaska.
If, instead of giving the revenues to them, we keep this oil revenue here with Alaska’s Clear and Equitable Share, 100 percent can go to creating jobs in Alaska or investing in our infrastructure — schools, bridges, roadways — and preparing for the future. The advantage of keeping the money in the state as opposed to giving it away to the oil companies is that if the state has it, the people get to vote for those who make the decisions. If the oil companies get the money, the guys with the million dollar bonuses decide.
With fracking, shale oil and other possibilities, the amount of oil soon to be finding its way into the pipeline is likely to be stunning. The oil companies, like any commodity traders, are holding out until the conditions are right to maximize profits. They’re waiting for us to be duped into voting for those who say they’re for tax reform.
This election, say no to “tax reformers.” Say no to John Coghill, Pete Kelly, Tammie Wilson, Alan Dick, David Pruhs and Pete Higgins.