The state of Alaska is run by the people who live here. Specifically, it is run by the people who have the time, money and connections needed to run campaigns and get elected.  The decisions made by the State have thus been those espoused to by that same demographic of people - which have overwhelmingly been people that work for big industries in the State.  

Initially these people were dependent on mining and fishing, which let Fairbanks get into the predicament it is in, entirely reliant on the university and mining, and as the oil boom took off, allowed more self serving people to back us into the ridiculous corner we are in now. 

The people that have run the State have chosen what policies and tax schemes their secondary employers would benefit most from, as invariably they all return to roost.  Don't blame the State, blame the bad actors we continually elect because they are the ones who yell the loudest - we need campaign finance reform that keeps a muzzle on corporate puppets.