Alaska legislators are being asked to grant a 90% reduction in state and local gas property taxes to advance the latest North Slope natural gas project without knowing whether other revenue concessions and costs may be asked of the state in the future. Some legislators are asking for more information before deciding on the tax reduction. History confirms their cautious approach.

The continuing conflict involving Iran is already affecting global energy markets, with consequences that extend far beyond the Middle East. Alaska, despite being a major oil-producing state, is not insulated from those disruptions.

Last year we got together and voted to poke a $10 million to $12 million annual hole in the CBJ bucket. That’s $100-plus million over the next 10 years.