Surely Mr. Katchen, an attorney for oil is familiar with the current tax structure but he gives no detail. The facts are that Alaska will receive no revenue even if oil goes to $80 per barrel. At that price point the oilies kick in new provisions that allow previous losses to be carried forward leaving the state with nothing.  Alaska needs a new tax structure that is simple, 35% of each barrel produced. Only under that system will the rip off be stopped and the people receive their fair share.