MA, I remain confused. Are not the "old tax credits" now legally due and payable in cash (say over a 5 year period) to certain (small?) oil companies based on contracts previously made with the State of Alaska? It is my understanding, going forward, that future oil company production efforts will be encouraged by State tax credits based on actual production rather than on guaranteed cash payments from the State. Why shouldn't the free market be allowed to work and play out as it may, however painful that might be near-term to Alaska, its citizens and the oil companies?

Alaska holds the resources (cards). Let the oil companies come to us when market conditions change, rather than us go begging to them. We're holding the Aces, even if we can't lay them on the table right now.