My reason for pursuing meaningful oil tax reform has been consistent: To turn around declining production and create Alaskan opportunity.
This requires investment, the kind that other oil-producing regions in the Western hemisphere attract during a high-priced environment. Alaska’s North Slope lacks this investment.
We have a world-class hydrocarbon basin: the North Slope. Yet unlike these other oil-rich areas — places such as North Dakota, Alberta, Texas — our production decline continues.