Senate Resources Committee Advances Parnell’s Oil Bill

Wednesday, the Senate Resources Committee passed a revised version of Senate Bill 21 out of Committee.  The amended bill was the result of five and half weeks of deliberation beginning in the Senate Special Committee on Trans-Alaska Pipeline System Throughput followed by work in the Senate Resources Committee.

Senator Cathy Giessel, who represents South Anchorage, as well as the Northern Kenai Peninsula, chairs the Resources Committee, and told us that she is proud the committee’s hard work to help establish an oil and gas tax system which is fair, balanced and simple across a wide range of oil prices.

Giessel said that using the Governor’s guiding principles we strived to create an attractive investment climate by virtually flattening government take at a level that is competitive with other similar oil basins around the world.

The Senate Finance Committee plans to start work immediately on Senate Bill 21 with a meeting already scheduled for this afternoon.

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