Oh I dunno, but collecting more in tax credits for "expenditures" than those expenditures actually cost the company in the first place seems a little bit like a loop hole.

Perhaps  the reality that the tax structure can require the state to actually pay REFUNDABLE tax credits - i.e. paying the developers to sell our oil is a loop hole?

But what else would you expect from an oil lobbyist turned governor? I don't particularly enjoy getting raped by industry - but our state doesn't mind letting the foxes have guard duty.