Exploration credits are not chickenfeed.  They have annually been more than what is currently  proposed for an income tax.  The real elephant in the wood pile is the production tax credits and redefining old fields as new fields in order to take advantage of this credit.  Dermot Cole pegs this figure at $2 Billion over a decade.   I say he is low.  The least it is costing us is $2 Billion.  Alaska has the absolutely worst Senate oil money can buy.  God forbid we develop another big field under SB 21.  It could take many $ Billions.  The State kicked in @ $1.5 Billion to build out Pt Thomson, essentially for a gas line that will not be built in 25 years.  For what?  Nothing in revenue.  We are pumping over $ 10 Billion in oil every year and paying to do it.  The oil companies are toasting champagne while they suck our Permanent Fund dry.  Sad, sad state of affairs in the Alaska State Senate.