Be prepared.  It’s the well-known slogan for the Boys Scouts of America.  Now, it also needs to be the slogan for the State Legislature, too.   Before, it is too late, the State Legislature needs to be prepared for what everyone has told them will be coming soon….the Trans-Alaska Pipeline will no longer be filled with oil someday.

The financial future of this state is in our Legislator’s hands.  It is time for them to start considering how to replace the oil money that has built this state, or simply start preparing the people in this state for a new state income tax.

Personally, I like the first option better than the second.  If we are going to be a state that lives off its resources, then, the State Legislature needs to look at the resources currently taken from this state with hardly any revenue reaching the state coffers.

What about the mining industry?  It is obviously a resource that continues to be developed here.  Should there be more state taxes and state fees collected on mines located on state land to recover the loss of revenue from the drop in oil production?  Just like our oil, these resources do leave our state for other destinations.

We are also told that Alaska has untapped renewable resources, too.  Geothermal resources exist here.  Tidal power and wind power is here, too.  So, why don’t we continue encouraging these companies to take a look at Alaska as a potential investment location to produce these state resources.

Plus, the state needs to take a good look at the other areas of revenue, too.  Tourism brings revenue to this state.  The state’s airports, specifically, Anchorage, bring revenue to the state, too.  We need to continue to let them flourish.

Finding more sources for state revenue through our other resources will never replace the wealth that was created from the North Slope and the Cook Inlet.  I think everyone would agree with that.  But, when determining the future revenue sources for the state beyond the Trans-Alaska pipeline, the state’s leaders should never make the same mistakes that were made with the original oil industry.  The state needs to learn from its mistakes.

Think About It-JDN

Filed under: Think About It by Joe Nicks