Not unlike some governors before him, Frank Murkowski maintains Alaska's net profit oil revenues of 57 percent (24 percent Federal and 33 percent Alaska); substantially below what other countries receive (many currently at 83 percent net profit retention by the host country). But now he's endorsed a tax cut for these same corporations that will range from $70 million-$120 million annually, claiming it will stimulate exploration and development. This became more reprehensible when his cronies in the Legislature attempted to make that incentive retroactive. How do you stimulate something that happened three years ago?
In September 2003, Murkowski wrote Sen. Domenici, lending support to Bush's energy bill proposing that oil corporations extract oil from NPR-A without paying any taxes; Alaska would lose tens (if not hundreds) of billions.
If you doubt this, you need to see Ray Metcalf's presentation on Alaska's oil revenues.
It's time to dump this Governor and his team in exchange for competent leadership whose souls don't belong to the Big Three Oil Corporations.
Go to http://www.recallmurkowski.com/, print and sign the petitions, and save Alaska for those that care about her. The current leadership no longer represents our public.
Dirk R. Nelson
Juneau Empire ©2014. All Rights Reserved.