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In Alaska, plan to cut oil taxes hits a wall

Anchorage Daily News online -- BECKY BOHRER
The Associated Press

Published: April 27th, 2012 03:19 PM
Last Modified: April 27th, 2012 03:30 PM

JUNEAU, Alaska (AP) - Oil long has been king in Alaska, but the state's Republican governor is having trouble finding support for a tax break he believes is critical to ensuring it remains so.

With a stunning defeat in the state Legislature this week, Gov. Sean Parnell has failed twice since last year to reduce production taxes on oil companies, a strategy he believes is crucial to bringing in new companies and ensuring those already here invest more and boost North Slope production. That would ensure Alaska's financial lifeline remains healthy for years to come.

Oil accounts for roughly 90 percent of unrestricted state revenue in the resource-rich state. It has helped make

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Submitted Apr 28, 2012 By: Nitewolf

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vincentV All-Star Author Toronto Posts:652 Points:137,305 Joined:Oct 2010	Message Posted: Apr 29, 2012 8:43:49 AM Ignore vincentV Report Abuse wow
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Apr 29, 2012 1:10:45 AM Ignore anascom Report Abuse ok
Wanda127 Champion Author Florida Posts:2,499 Points:917,630 Joined:May 2010	Message Posted: Apr 28, 2012 11:56:20 PM Ignore Wanda127 Report Abuse ok
ktbaeohana Champion Author Las Vegas Posts:2,316 Points:423,950 Joined:Mar 2010	Message Posted: Apr 28, 2012 5:16:18 PM Ignore ktbaeohana Report Abuse do whats right.
TableTalk Champion Author Virginia Posts:1,184 Points:558,700 Joined:Nov 2008	Message Posted: Apr 28, 2012 4:48:47 PM Ignore TableTalk Report Abuse Once government vampires sink their teeth into an industry, it's real hard to get them to let go.
LEGION57 Champion Author South Carolina Posts:1,676 Points:283,110 Joined:Mar 2011	Message Posted: Apr 28, 2012 3:08:58 PM Ignore LEGION57 Report Abuse Profit to evil oil companies- 7 cents per gallon- profit to beneficial government who did nothing to make the gas- 35 cents per gallon.
TripleHs Champion Author Austin Posts:3,355 Points:919,590 Joined:Oct 2009	Message Posted: Apr 28, 2012 2:36:33 PM Ignore TripleHs Report Abuse not surprised
doggod Champion Author Anchorage Posts:2,863 Points:744,285 Joined:May 2009	Message Posted: Apr 28, 2012 1:58:04 PM Ignore doggod Report Abuse Special session, here we come. Again.
Luckylindy Champion Author Milwaukee Posts:4,529 Points:1,129,995 Joined:May 2008	Message Posted: Apr 28, 2012 1:16:29 PM Ignore Luckylindy Report Abuse Liberals will never understand the concept that if you lower tax rates you increase revenues through increased economic activity. Idiots.
Venzadriver Champion Author Florida Posts:1,325 Points:361,615 Joined:Dec 2010	Message Posted: Apr 28, 2012 11:49:08 AM Ignore Venzadriver Report Abuse They'll still make us buy it back off the world market, process it into gas, etc. and buy THAT back from the world market.
OHMS Champion Author Orange County Posts:13,738 Points:1,695,780 Joined:May 2005	Message Posted: Apr 28, 2012 11:41:49 AM Ignore OHMS Report Abuse One of the concerns was with giving too much money to oil companies, particularly for oil they would have produced anyway.