Is there a question to answer?
I was running an engineering department when Sarah Palin ran for and was elected governor. She ran on raising taxes against the oil companies and implemented that change, with the rate rising as profits rose. The change was made retroactive and made the companies pay taxes for a time period already taxed.
Many projects were put on hold. Alaskan North Slope projects tend to take years with the seasonal limits of heavy transportation and construction. There were many projects already in construction and fabrication that continued as most of the dollars were already spent.
Most new projects that were not significantly funded (ie still in planning, early design) were set aside and the engineers and designer’s laid off. My department was about a 1/3 its size in a year or so. I moved back to Texas and hired a couple people there that had worked for me in Alaska.
Since then the new Governor and Legislation has removed the “ACES” tax and has become more competitive with the lower 48. It is still too high, in my opinion, but it is significantly better and the oil companies have begun more significant spending.
Buddy...they will never listen to the facts if it don’t fit.
I too winced at the populist machinations
Thanks, that was what I was asking.