March 30, 2011

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Oil Giveaway: Even in Unlikely Event it Works, Alaska Still Loses

State numbers show even more production won’t overcome billions in lost revenues

JUNEAU – According to a new fiscal note from the Alaska Department of Revenue, Governor Parnell’s proposal to give large tax breaks to the oil industry would still cost the state billions of dollars in lost revenue even if future oil production increases. Because producers have not committed to increasing investment, exploration or production should the bill pass, the administration used arbitrary scenarios assuming various degrees of increased production. No scenario showed Alaska making back lost revenues once the bill takes full effect.

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Rep. Kawasaki’s Juneau Note: Constituent Meeting Success; Training Our Own; Tax Breaks for Big Oil Producers;

The constituent meeting in Fairbanks was a huge success. Thanks to everyone who was able to take time out of a busy and sunny spring day to attend. There were so many of you who attended that we exceeded the maximum capacity of the room! Once again, thank you for coming to express your comments and concerns. I look forward to updating you all on these final days of the session.

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Phone
Phone: 907-465-4451
Fax: 907-465-3445

Address
State Capitol Room 208
Juneau AK, 99801