A Free enterprise system would have the oil companies paying for their own development costs, instead of being subsidized by the state savings account.

Everywhere else in the world, places with common sense,tax oil on the gross not the net.  No one else allows oil companies to deduct outside expenses and losses from everywhere else to avoid paying taxes.

It seems even more insane to allow them to deduct expenses, then not even audit their expenses...but that is what is happening.

Oil companies claim they are only breaking even on $50 per barrel, that's good with our legislature.

Whatever happened to Reagan and "Trust, but verify"

Meanwhile the Feds caught them inflating transportation costs (which they pay to themselves then deduct as expenses), we are owed billions from audits because of this but the legislature has failed to finish audits and failed to collect the billions already owed.

Instead they reduced their interest.

It is time to stop this socialism for oil companies.