Joanna777, quoting Wielechowski on oil and gas tax policy is like quoting Trump on immigration policy- you're moving beyond facts to demagoguery. 

Read the state's revenue sources book published in December. The state did bring in $89MM in production tax. But when you add royalties, property tax, and corporate income tax, the state actually brought in $2.1B in total FY '16 revenue from oil companies. ACES would have brought us less according to DoR. The budget shortfall is because low oil prices, not the underlying oil tax structure.

For FY '17 the state owes about $600MM in cashable tax credits. This is because the Governor vetoed paying tax credits for the last two years- not because they were all generated in one year. Assuming the same happens this year, the total grows to around $900MM by FY '18. On top of that, the Legislature ended many of those credits last year with HB 247. We can debate the policy of offering credits to explorers but that's an argument for a later thread.