1) Alaska is the only state where the citizens own the rights to all of the natural resources in the state. So, the oil companies need to pay the citizens for extracting the oil, gas, timber, gold, etc.
2) The oil companies had made deals with the corrupt boy's club to keep the royalties down. Palin made them pay a fairer price.
I'm not in the oil business, but went to college amidst that industry, and am in no way anti “big oil”. Without big oil none of these new huge (and remote) resources would get developed. A mom and pop company can operate in the midst of a developed Texas oil field. Out on the North Slope - not so much.
There are some on the right who think “big company = always good”. The big Oil companies have their own interests, which they will try to fight for at any cost and if they conflict with the constitutional rights of Alaskans, it’s the job of the Governor to protect the rights of Alaskans. Alaskan citizens are the owners of their ressources, and thus are entitled to royalties.
Alaska is the only state where the citizens own the rights to all of the natural resources in the state.
Alaska is a very different animal that’s for sure. However the biggest owner of land in Alaska is the Federal Gov’t at something around 65% depending upon which source you read. The State of Alaska owns the vast majority of the remainder with private ownership being a smaller amount. Alaska is basically a government owned land mass as opposed to other states where the individuals [non gov’t] owns the vast majority of the land mass. Alaska did pay something like $1200 annually to each citizen from royalties derived but I’m not sure what the figure is today.