Parnell: SB21 Can Lead to Alaskan Oil Comeback

The state legislature is coming toward the end of this half of the legislative session, as state lawmakers gavel out on Monday. Governor Sean Parnell is continuing to advocate members of the state house to pass Senate Bill 21, the governor’s plan to overhaul the state’s oil tax policy…


Gov. Parnell: “When it comes to the current tax structure, the facts speak for themselves. Alaskan oil production is declining at nearly 6 percent per year. We have fallen behind both Texas and North Dakota, and risk falling behind California if we continue to accept status quo decline. We need a good Alaska comeback. Alaskans from across the state have made their voices heard. We have heard from hundreds of you, including small business owners, employees, parents, and teachers; you all have talked about what oil tax reform means to you and your families. Most Alaskans support Senate Bill 21 because they recognize that more production and more investment will mean more for our future.”


Parnell said that he will continue to gage any oil tax changes to his four guiding principles…


Gov. Parnell: “Independent experts have testified about the impact of Senate Bill 21: It will better protect the State at low oil prices, while ensuring we are competitive at high oil prices. The companies have testified that Senate Bill 21 in its current form will lead to greater investment and more production. Senate Bill 21 strikes the right balance to ensure all Alaskans benefit over the long haul, no matter the price of oil. We are on the cusp of ensuring a prosperous future for generations of Alaskans. The Legislature has worked incredibly hard over the past few months analyzing these issues. The time to act and create a future of opportunity for Alaskans is here.”


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