A quick internet search tells me that, according to Forbes Magazine, Hilcorp’s owner, Jeffery Hildebrand, now has personal wealth totaling $10.2 billion. Writers have argued in these pages against taxing Hilcorp at current rates, and against any change in our oil tax regime. I argue that the oil companies know that this is the cheapest of all ways to avoid taxation, and it works. Does Norway need to go begging for charity from the oil companies? By contrast, in Alaska, our current oil tax regime was largely determined by two oil company employees, state Sens.

Source: Forbes July 24, 2023 18:56 UTC