This is a rare story about Alaska that does not involve Sarah Palin or any member of the Palin family. It does involve state budget shortfalls, corporate welfare, dirty energy, banksters, and rabid elephants.
Alaska relies on oil revenues to fund state government. Oil revenues have been falling as north slope production dwindles, creating budget headaches. So what do you think Republican governor Sean Parnell wants to do to solve the crisis?
Parnell wants to expand oil-patch tax credits and cut tax rates in the hopes of spurring exploration and sending more oil down the trans-Alaska pipeline. He said he'll draw billions from state savings to make up any budget shortfalls.
Add dry holes in rock to the list of things tax cuts can supposedly cure.
