It should be common sense that promises about billions of dollars are unenforceable, unless boiled down to contract law. Giving away $2 billion dollars, per year, for an unenforceable promise, is little more than a giveaway of public resources.
Governor Parnell says that if he doesn’t get his way, it requires him to limit spending to preserve state budget reserves. Giving $2 billion away doesn’t hurt the state’s reserves? No $25 million for Anchorage, but $2 billion for the oil industry is OK?