Alaska legislators promote oil tax credits

Posted: Friday, February 11, 2011

JUNEAU — Two Alaska legislators are asking Gov. Sean Parnell to remind the oil industry of existing incentives for drilling.

Senator Hollis French and Representative Les Gara, both Democrats from Anchorage, say oil companies doing business in Alaska enjoy high profits and generous tax breaks. They are calling on Parnell to remind companies of the breaks already in place.

This follows a proposal by Parnell proposes to expand credits and cut oil production taxes as a way to spur greater investment and create jobs.

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