Hmmm....Windfall tax lets Alaska rake in billions from Big Oil

[Serial Mom]

http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html
Republicans in Congress this June united to defeat a proposed windfall tax on oil companies, deriding it as a bad idea that would discourage investment in U.S. oil exploration.

Things worked out far differently in the GOP stronghold of Alaska, a state whose economic fate is closely tied to the oil industry.

Over the opposition of oil companies, Republican Gov. Sarah Palin and Alaska's Legislature last year approved a major increase in taxes on the oil industry — a step that has generated stunning new wealth for the state as oil prices soared.


Interesting read! It's easy to be Chief Executive of a State with a $12 billion STATE BUDGET for less than 1 million people when $10 billion comes from the OIL COMPANIES!

Alaska gets $10 billion in revenue from BIG OIL (windfall taxes by the STATE), yet McCain opposes windfall taxes NATIONALLY on oil companies.

Why is it OK for Palin to tax the OIL COMPAINES and help manage the budget of Alaskans and the State, but not the rest of the country?

[WCGreen]

1. Even Bush couldn't fuck that one up...

[Serial Mom]

2. well, maybe...

everything he has touched has failed

[d_b]

3. lol

so true.

[Make7]

4. I think you're being overly optimistic. ( n/t )

[MrMonk]

5. So, "Palin increased taxes in Alaska",

Did her tax on the oil companies cause them to reduce production? Stop exploration?

I also wonder if there was a quid pro quo: "We'll make a token protest against the tax, if you promise to open up territory for exploration."

[Serial Mom]

6. Right! That's why I found it such an interesting story!

And it is from AUGUST 10!!!!