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

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

 

More

Please help the Dreamers

Sen. Lisa Murkowski, Alaskans have not yet given up on one fight you have championed: protecting Dreamers with permanent legislation so they can continue to... Read more

Protect the Permanent Fund

When I read today that our dividend is going to be taken away completely it became clear that our legislative reps were not paying attention... Read more

On rescinding Obama-era marijuana enforcement guidelines

Marijuana by U.S law is classified as a Schedule I controlled substance. I extracted the information below from the U.S. Drug Enforcement Administration (DEA) official... Read more

One griz, two bull elephants

Perhaps I’m jaded, or at least distracted. But spotting headlines about Gov. Bill Walker brokering a $43 billion natural gas project with China didn’t interest... Read more