They are still making considerable money off of the government, though, and did Palin ever try to overturn this while she was in office?
Here is a quote from Palin made to a journalist of a magazine: “we’re set up, unlike other states in the union, where it’s collectively Alaskans own the resources. So we share in the wealth when the development of these resources occurs.â€
Wow...where's Dr. Fun when you need him?
Alaska owns the oil! They receive payments from the oil companies for the oil. Alaska operates at a surplus and the money is put into an oil fund which then pays dividends to its citizens.
One more time. Alaska owns the oil therefore the people of Alaska own the oil. These are royalty payments! They "share the wealth" because Alaska owns the resources.
Do you think it is the same as a windfall profits tax? Because its not. A windfall profits tax is just arbitrarily picking on a company for doing well and "sharing the wealth". Exxon has record profits...lets take some money from them and give it to everyone. Now that is a share the wealth philosophy. No rhyme or reason other than they are making a lot of money we should get a piece of the action.
What happens when oil prices drop and Exxon (or whoever) starts losing money. Does the government then subsidize them and fund their losses? No...that would be socialism. Thats something else Obama should be hammered on.
Also what happens to the Exxon shareholders? Lots of pension funds (teachers and auto worker unions too) invested in Exxon. Its their money...let them do what they want with the record profits. Lets not let the government take it and decide what to do with it.