Net Operating Losses, NOLs, are currently subsidized with a cash payout by the State of Alaska. Imagine a college where they give all the students free cocaine so they can stay awake and study. You threaten to stop the free cocaine and all the students say they'll leave and your enrollment may go down. The first question should be what other college gives you free cocaine? The second question is wouldn't you be a better student if you didn't need cocaine in the first place? Monetizing NOLs isn't the solution, it's the problem. Paying oil companies to lose money makes about as much sense as investing the entire Pernament Fund into credit default swaps. It's voodoo and voodoo is bad!