Today we add our note to the story below:
We find the state’s position wanting. If Alaska governor Bill Walker’s predecessor governors wished to demand competitive producer information, they would have put that demand in the original Prudhoe Bay Lease Sale — and future lease sale — requirements.
Adding requirements — especially those that violate federal laws — after a lease sale, after investors pay their bonus bids, after exploration and development and construction of transportation facilities and after nearly 50 years of precedent is tantamount to expropriation.
Had such requirements accompanied any of Alaska’s historical lease sales, bonus bids would have reflected the higher risk and lower value of the offerings to potential lessees. We believe that critics of Alaska’s Governor who may now be referring to him as being “out of touch and out of control” would merely be making a rational observation. -dh