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Parnell's oil tax numbers don't add up

Posted: June 10, 2012 - 12:05am

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

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