The state has not done an audit on the oil company’s since 2007. The governor does not want to have the state do an audit because it would expose the fact that the free billions of dollars he is giving away is all going out of state. None of it will be spent in Alaska. The money the oil companies’ are spending now in the oil fields was planned a number of years ago and has nothing to do with the free give away of the state’s billions of dollars to them. The governor is doing the smoke and mirrors thing, the empty hoop dance on this and so far it is working. The governor will be richly rewarded by the oil company’s after he is out of office with a cushy high paid job. So he will be personally out on top with this while we will be stuck for years paying income and sales taxes to make up for the loss of income to the state’s budget. The next thing to go will be the dividend check. Some call the governor Captain Zero, but when he gets that high paid job from the oil companies’ after he is out of office, who will be Captain Zero then?
If a 100,000 barrels of oil was increased through the pipe line of which projections say that is not going to happen, it would take to the year 2040 before the state would break even. By then the oil fields will be playing out. The oil companies’ will not give the state free 8 billion dollars to help us out when they leave and we will be in an economic desperation by then. The door is swing only one way on this. The state should take that money and develop the oil fields that the oil companies are not developing like Norway does. That way the state would get all of the money and the free billions of dollars would then in fact be used for developing the oil fields.