Parnell's oil tax numbers don't add up

The U.S. Department of Interior published a worldwide comparative analysis of taxes on oil profits. (Profits: Distributable cash remaining after production and shipping costs are paid.) It placed Louisiana’s tax at 85 percent; federal waters off Louisiana 79 percent; Texas and Alaska 76 percent. Gov. Sean Parnell told the Alaska Oil and Gas Association’s (AOGA) Make Alaska Competitive luncheon, “Alaska’s tax equated 72 percent.” Common Wealth North published 73 percent. AOGA parrots the Interior Dept. at 76 percent. Mexico’s government publications show a tax equivalent of 94 percent. However, AOGA falsely advertises that Alaska’s oil tax is the highest in North America? Parnell’s Deputy Commissioner of Revenue Bruce Tangeman told our senators the same. Rep. Mike Hawker said it in the Anchorage Daily News. Their continual repeat of this false claim is the basis for their argument that Alaska is “uncompetitive.” It’s their rationale for diverting 30 years worth of future PFDs into the pockets of the oil company share holders that fund their campaigns. Months ago, I delivered proof of Mexico’s 94 percent tax to Parnell’s Commissioner, Hawker, and AOGA. No response no corrections. Where is the integrity?

Ray Metcalfe

Anchorage

More

Thu, 01/19/2017 - 08:45

Letter: Being homeless should not be a criminal act

I find it shocking that our Assembly is considering an ordinance to make it illegal to be homeless. Read more

Sun, 01/15/2017 - 07:26

Letter: Wrong place for the whale

In my opinion, our city fathers exercised bad judgment in locating the whale sculpture where they did. It is hidden from view. Read more

Letter: The case for a public Bank of Alaska

Last October, the good folks in the Kenai Borough approved creation of two new pieces of paper called a bond for infrastructure projects. Read more

Letter: A state income tax is fair and equitable

The courage and integrity of our legislators will be tested. Last year they failed to step up to the plate. Our courageous governor had the fortitude to do so. The time has come for Alaskans and those who work here to pay for the services received. Read more

CONTACT US

  • Switchboard: 907-586-3740
  • Circulation and Delivery: 907-586-3740
  • Newsroom Fax: 907-586-9097
  • Business Fax: 907-586-9097
  • Accounts Receivable: 907-523-2230
  • View the Staff Directory
  • or Send feedback

ADVERTISING

SUBSCRIBER SERVICES

SOCIAL NETWORKING