Governor Lauds Senate Vote for Opportunity

Statement

Governor Sean Parnell today released the following statement applauding the Alaska Senate for passing Senate Bill 21, the governor's legislation to grow Alaska's economy through increased oil production.

"For three years, Alaskans have watched from the sidelines as competing jurisdictions eclipsed our state in terms of oil production and industry investment. Alaskans sought a fair and competitive oil tax system that brings new jobs and investment to the oil-rich North Slope. Today, the Senate took bold action to increase production and fill the pipeline. I thank them for heeding the concerns of Alaskans, for understanding the urgent need for reform, and for acting in the interest of Alaska's long-term prosperity.

"As the bill moves to the House, I will continue to weigh changes against my four guiding principles. We are making significant progress toward Alaskans' goal of attracting new investment, encouraging increased production, and restoring our standing as America's great oil province."

Governor Parnell's four guiding principles are:

· Oil tax reform must be fair to Alaskans

· It must encourage new production

· Oil taxes must be simple so that they restore balance to the system

· A competitive tax structure that is durable

Senate Bill 21 now heads to the House where it will be taken up by the House Resources Committee.

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