News: Rep. Gara’s Public Comments Detail Potentially Excessive Tax Breaks for a Company Seeking “Royalty Relief”

Anchorage – On Monday, Rep. Les Gara (D-Anchorage) filed detailed public comments showing the Nuna oilfield will receive significant, and possibly excessive, tax breaks under little-known provisions in S.B. 21. The Parnell Administration, in its waning two weeks, proposed a roughly $40 million reduction in the royalties Nuna’s current owner, Caelus Energy, would owe Alaskans. The Parnell Administration proposed to change the field’s existing lease terms to include additional revenue reductions at a time Alaska is facing a $3 billion budget deficit.

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NEWS: Parnell “Chooses Silence” On Zero Worth Oil Provision

Governor Parnell has had three weeks to defend a special interest provision in SB 21 that gets Alaskans either a near zero, or even negative long term Production Tax Worth under his controversial oil revenue rollback, SB 21. Rep. Les Gara wrote Governor Parnell on July 24 to ask for his defense of a zero or negative value oil tax provision. Parnell has refused to defend a provision that gets Alaskans little, or possibly a negative worth for fields that went into production under ACES, fields committed to go into production during ACES, and all post-2003 and future oil fields.

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NEWS: Zero Value Oil Tax Provision Hidden From Legislature In 2013

Representative Les Gara (D-Anchorage) said today the public should know the Parnell Administration never revealed a special interest provision in Senate Bill 21 that nets Alaskans nearly no production tax value, or even a negative worth for Alaska’s oil. “Negative or zero oil tax value on all future oil fields, and all fields after 2003, was never once mentioned in a legislative hearing before SB 21 passed,” Gara, a House Finance Committee member, said.

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Note from Rep. Gara: Fool Me Once: A Fact Check on Those Slick Oil Ads

I’d like a world where people tell the truth during elections. But wishing doesn’t work in this new world where outside corporations and groups are allowed unlimited election $pending. With that money these special interests constantly violate the old adage that you’re entitled to your own opinions, but that you’re not entitled to your own facts.

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