seattle Times August 2008...
"BP Alaska, which runs Prudhoe Bay, said earlier this year that it had delayed the development in the western region of the North Slope as a result of the tax. ConocoPhillips cited the same reason for scrapping a $300 million refinery project. "What the tax has done is take away all the upside," said Doug Suttles, president of BP Alaska. The U.K.-based oil company paid more than $500 million in taxes to Alaska last quarter — far more than it earned in profits from Alaskan oil, according to Suttles. Investment dollars are flowing instead to places that have a better return, like the massive deep-water projects offshore in the U.S. Gulf of Mexico, where ConocoPhillips said the government take equals less than 50 percent of the barrel."
As for the pipeline, not one shovel of dirt has been moved to date. Palin committed $500 million of Alaska taxpayer dollars to TransCanada to cover the cost of development...regardless of whether the pipeline ever gets built.
It is these two policy disasters that, along with her resignation, turned many of us against her.
“It is these two policy disasters that, along with her resignation, turned many of us against her. “
I like Sarah, but she made a mistake in those two areas.