The oil “tax” that is the price paid for our oil should not go down, and here’s why:
Oil companies are already making big profits in Alaska, and we are quite competitive with other sources.
SEC filings by Conoco Phillips show they make $6.50 profit per barrel in the Lower 48. They make $9.40 per barrel profit outside the U.S., and $19 profit per barrel in Alaska. The new contracts they have negotiated with Iraq and Russia give them between $1.90-$2.50 per barrel (depending on the exchange rate and other factors).
The oil companies are spending a lot of money deliberately lying to the public.