Windfall tax lets Alaska rake in billions from Big Oil

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.

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Guess who is paying the extra $6 billion in new windfall taxes in the form of higher gas prices?

Ohio's entire annual operating budget is $27 billion and Alaska rakes in $10 billion from oil alone. How do you not run a surplus? I wish I could be governor of Alaska. It's like playing Sim City with cheat codes.

I'll say it now and I'll say it again after the election: McCain should have picked Romney. He governed a state consisting of the bloodiest of bleeding heart liberals and turned around the Salt Lake City Olympics after the bribery scandal. Palin's record includes successes like selling the state's corporate jet and not teaching her daughter to use condoms.


"Show me a man who lives alone and has a perpetually dirty kitchen, and
five times out of nine I'll show you an exceptional man." -Charles

There's a city full of walls you can post complaints at

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