1. United States
2. Alaska
3. Letter

Hilcorp took over BP's Alaska assets in 2020 and has been operating one of the most profitable oil fields in North America ever since. BP paid approximately $543 million in taxes and royalties to Alaska in 2017 alone. Hilcorp pays zero corporate income tax — not because of any negotiated deal, but because Alaska's tax code never accounted for S Corporations. Prudhoe Bay has made Hilcorp enormously profitable. They can afford to pay their share. That revenue would go a long way toward balancing our state budget and restoring revenue sharing with Alaska communities that have been left waiting. Either the legislature needs to close this loophole directly, or the Governor needs to personally bring Hilcorp to the table to negotiate a fair agreement. Both paths lead to the same place: Hilcorp contributing what BP did. This is fixable. What's missing is the political will to fix it.