Producers asked to testify at hearing

Posted: Sunday, February 13, 2011

JUNEAU — Oil and gas producers have been asked to testify next week on a proposal that would cut oil production taxes in Alaska.

The proposal from Gov. Sean Parnell also includes expanded tax credits. Parnell has said he believes the plan will lead to greater investment in the state, helping to boost oil production and create jobs. But he has called on industry to testify about how the proposal would affect them.

Producers have been invited to testify before the House Resources Committee on Wednesday. Among those expected to appear: BP.

A spokesman for BP Alaska, Steve Rinehart, says the company believes significant tax policy change is needed to incent North Slope investment. He says the longer it takes for changes to be made, the longer the wait for “positive effects.”

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