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"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.

At a time when Americans are feeling the pinch at the gasoline pump and oil companies are racking up record profits, Alaska's choice foreshadows one of the sharpest debates in the upcoming presidential election.'

http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html

If you were more informed about Alaska history & politics, you would know that state taxes on oil have been reduced by 80% from the rates originally agreed upon when the pipeline was built.

State legislators have always been more than happy to fill their pockets with money from oil industry, and then do their bidding. Oil has always corrupted politics up here; they pretty much own both partys. Has led to public holding their noses concerning the corruption. Alaskan's were glad to see Palin clean it up and send quite a few of our own Repubs off to the big house.

Oil has been a double edged sword here. It funds government but also permits many social programs and no state income or sales taxes, a good thing actually.

The oil industry has a sweetheart deal here in Ak and they know it all too well. Most Alaskans would have preferred future gas development to be state controlled for Ak's useage & benefit. Palin preached for private development; we shall see who proves up?