Governor Sean Parnell today continued to press for meaningful oil tax reform. In a speech to the Juneau Chamber of Commerce, Governor Parnell offered details of his oil tax legislation that blends proposals advanced by the House and Senate. The goal is to bring in billions of dollars of new investment, create jobs, and develop millions of barrels of new oil production.
At the end of the regular legislative session, the Senate passed legislation that offered incentives for operators only in new oil fields, but did not address meaningful tax reform for existing legacy fields.
"All I'm asking of the Legislature is to apply the Senate's methodology and logic in a comprehensive fashion to both existing and new fields," Governor Parnell said. "It's not enough to say we can get only new production from new fields while sending the message that more of Alaskans' oil can remain locked in the ground in legacy fields."
The Alaska Legislature is considering the governor's proposal in a special session currently under way.
A copy of Governor Parnell's speech to the Juneau Chamber of Commerce is available at: