Alaska Industrial Development and Export Authority bidding on Alaska oil and gas leases in the Arctic National Wildlife Refuge seems like the height of folly. Who gave them the authority to essentially get into the options and futures market? And why would they continue to artificially interfere in what should be a bidding process for private sector bidders?
And given AIDEA’s already suspect reputation and track record, if you have a history of taking foolhardy risks and setting a precious state resource (money) on fire, not to mention the opportunity cost of denying actual prudent risk-taking and investment from state coffers, why modify? Maybe it is all about embracing the suck, or sending good money after bad. It is all kind of horrendously breathtaking. I suspect the whole organization should be shut down, and we should take the assets and start over, with a new charter and structure.
— Hugh Wade
Anchorage
Have something on your mind? Send to letters@adn.com or click here to submit via any web browser. Letters under 200 words have the best chance of being published. Writers should disclose any personal or professional connections with the subjects of their letters. Letters are edited for accuracy, clarity and length.