Restart state budget process and legalize gaming

To the editor:

Crude is crashing! Goldman Sachs predicts $20/barrel crude prices are possible. Since that price is likely below what it costs to produce Alaska North Slope crude oil, that means no more oil tax revenue. Since all restaurants and gatherings have been closed, and many cruises have been cancelled, there will be little tourist revenue. Experts need to re-set their tourism revenue forecasts to near zero, and their crude price predictions for 2020 down to about $25/barrel, and Governor Dunleavy should announce an emergency session, so that Legislators can re-start their budget process, accordingly, with a new determination to produce a balanced budget for Alaska. Legislators could also agree to support the general state lottery and gambling bill proposed by the good governor with a heavy state sales tax levied upon all gambling-related sales to help avert economic catastrophe. Casinos may be opened at tourist sites, like Girdwood, so that more tourist dollars are spent in Alaska. We must stop the river of money that is now leaving Alaska every year to be spent at gambling casinos out of state. Remember, everyone who moved to Alaska is a gambler at heart! So, let us open our minds to new sources of revenue.

— Daniel N. Russell,

Anchorage