Really? It doesn't matter what the tax penalty is? The companies should just be happy to pay it and go on?
as my analysis of 9 years of ConocoPhillips Alaska financials clearly shows
What has the production rate done in that time period? You are comparing a time period where the major investment for the capital cost to build infrastructure was already spent and only operations and maintenance was the expense. If they are not investing dollars to replace declining production, then they don't have a long-term future.
The oil business requires significant capital investment before you get a return. Those dollars don't happen in the same year or the following.
Sorry for the double post. I was trying to make a correction and mis-hit.