SITKA — Former Gov. Bill Sheffield says repealing changes to Alaska’s oil tax structure would be a mistake.
Sheffield spoke Sunday at the Sitka Historical Society.
The Sitka Sentinel (http://bit.ly/17H2oMl) reports that in brief remarks, the 84-year-old former governor says he favors retention of the tax measure that will be up for repeal by initiative next year.
The law gives major tax breaks to oil producers with the goal of increasing production.
Sheffield says the law is not perfect but can be made better.
He says oil revenue curtailment of oil production will have harmful effects on the Alaska economy.
Sheffield was elected governor as a Democrat in 1982. He served one term.
He says he’s promoting construction of a 36-inch natural gas pipeline from the North Slope to southcentral Alaska.