Not completely true Hank. I remember Parnell acknowledging as he signed SB21 into law that it would mean an immediate loss of revenue and we would need to tighten our belts. Oil was still around $100/bbl when he signed the new tax law into being and that is why under SB21 we were immediately collecting less production tax revenue. The collapse in oil prices only exacerbated the deficit that was brought on by the implementation of SB21. The difference in what SB21 is bringing into the state coffers and what would have happened had ACES still been in effect at these low oil prices is minimal compared to what will be the effect on oil revenue when prices go back up. We will receive such a low production tax on the new projects we are paying 65% of the cost of when they finally come online that the state will forever be in deficit spending mode. The promise of SB21 was that vastly more oil would be produced to make up for the lost revenue everyone acknowledged would happen  under SB21.