Congratulations for getting fair share

Posted: Friday, November 23, 2007

We as Alaskans got what this Alaskan considers our fair share of oil revenues finally. The smell of corruption is somewhat gone out of the air. Now the oil companies will start to lay off people on the North Slope in hopes they will scare us into revisiting the tax issue yet again. I am sure the oil companies also will spend a very small part of their record oil profits to start a television ad campaign to let all Alaskans know that they will no longer invest in Alaska.

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All of this will be false, of course.

I congratulate the two bodies of government for stepping up and following our constitutional rights to Alaskans' fair share of these record profits that oil brings to these companies.

Any and all who lost their livelihoods to the Exxon oil spill and will never see a dime of a settlement from Exxon should rejoice in the fact that we the people of Alaska won this tax battle. Interestingly enough, Exxon refused to tell the Senate Finance Committee what its profits in the State of Alaska are. The company only states its worldwide profits. If this is the case, how do we as a state tax this company on profits made in Alaska?

I strongly feel that oil companies will continue to invest in Alaska. Their holdings and leases on the North Slopes of Alaska are far too vast and profitable to let that resource sit in the ground untapped. Now it is time to get all of the stranded gas fields operating and get that gas to Alaskans and the rest of the Lower 48. Perhaps it is time for Alaska to put a large investment in the building of a gas pipeline and its associated spur lines throughout Alaska. We have moved in the right direction on this tax. Now the state needs to step up and get a fair tax and tax breaks to companies who want to get Alaska's gas moving.

Thomas Baxter


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