The Senate bill to close the glaring loophole that enriches billionaire Jeff Hildebrand to the tune of $100 million a year or more moved out of the Senate Resources Committee Wednesday.
The Legislature should have closed the Hilcorp loophole in 2019 when he bought out BP. Since then many hundreds of millions that could have gone to state services, including the Permanent Fund Dividend, went to Hildebrand’s pockets in Texas.
The oil industry propaganda, which is thoughtlessly copied and repeated year after year, never mentions this high-stakes cash flow Outside.
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