I would like to take Robin Brena's argument one step further and say that "all the oil belongs to the state of Alaska" and we should have an arrangement with the oil companies that recognizes our ownership by giving them a cut of 20% of all the oil they produce on "our land" while we keep 80% for ourselves. Instead, as Robin so deftly pointed out, the arrangement is exactly the opposite of what it should be; the oil companies are giving us a "small cut" of our oil and keeping the rest for themselves. It makes us look "PRETTY STUPID" and that stupidity is not lost on the oil companies. We are basically GUARANTEEING the oil companies survival while at the same GUARANTEEING our bankruptcy. Now that is REALLY STUPID!