NEWS: Democrats Comment on Signing of Oil Giveaway

CONTACT: Mark Gnadt (907) 465-3842          www.akhouse.org

FOR IMMEDIATE RELEASE

May 21, 2013

An Historic Step Backward

Rep. Kerttula and Rep. Gara comment on the signing of the oil wealth giveaway

Today, House Democratic Leader Beth Kerttula (D-Juneau) and Representative Les Gara (D-Anchorage) issued the following statements in response to the governor signing Senate Bill 21, the oil wealth giveaway, into law.

"Today the Governor takes an historic step backward from the path we have been on since statehood to control our resources,” said Rep. Kerttula. “By giving our oil wealth to the oil companies we place our destiny in their hands instead of our own. Alaskans should not stand for this. I support the effort to repeal this horrible giveaway gamble.”

“The governor took Exxon’s approach. The biggest part of his bill gives away $1-$2 billion a year in Alaska’s revenue, and lets companies invest that money anywhere in the world they want,” said Rep. Gara. “Our legislation did what Alaskans would want. It required oil company investment in Alaska, to increase production, as a condition for reasonable tax breaks.”

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