JUNEAU — The House Resources Committee has released a version of the oil tax bill that co-chair Eric Feige believes is fair to Alaskans and to the oil companies.

The proposal, like the version that passed the Senate, would fix the base tax rate at 35 percent and provide a $5-per-barrel credit for oil produced. But that $5 credit would only apply to what would be considered new oil and production that also would qualify for a 20 percent tax break, known in this version as a gross value reduction.

JUNEAU — Alaska’s lone U.S. House member said Thursday that he’s not concerned about a new ethics investigation into him.

Rep. Don Young told reporters in Juneau that the U.S. House Ethics Committee is looking into matters that he said the FBI has already found him “totally innocent of.” The committee last week announced it was forming a special panel to investigate whether the Republican failed to report gifts on his annual disclosure forms, misused campaign funds and lied to federal officials.

JUNEAU — A proposed overhaul of Alaska’s oil tax structure would be a vast improvement over the existing system, but it doesn’t go far enough, industry representatives told the House Resources Committee on Tuesday.

Dan Seckers, tax counsel for Exxon Mobil Corp., said SB21 would make Alaska more competitive — a point that’s been underscored by consultants to the Legislature and Gov. Sean Parnell’s administration — and it should lead to more investment. But he said he “would love” for Alaska to become even more attractive.

JUNEAU — The city of Valdez plans to spend up to $900,000 to try to defeat a bill aimed at advancing an in-state natural gas pipeline project.

City manager John Hozey said a large-scale line capable of feeding overseas exports makes more sense for Alaska.