Even oil, oil Legislators and oil lobbyists have to adjust  to Saudi-ruled markets after  a while!! 
Most of the aforementioned goodies are fully tax write-offs; the employment spinoffs would be higher if taxes were higher and if more employees were residents; Alaska  bond ratings would be higher - and will be - when both government and industry adapt.

If and when oil prices come back in a big way,  maybe another look at incentives would be warranted- But not now!! And from everything I read - not in the foreseeable future. either!!
No one likes causing pain - but if not teir pain - then whose in their place?  Which undeserving people and things sould be taxed or hurt in their place?  Where are the free-marketers when we start talking about cutting unwarranted subsidies?