Under SB21, existing law provides unnecessary and massive tax breaks to our largest and most profitable legacy fields. Alaskans are sacrificing their fair share of production revenues from these legacy fields for no reason at all. Alaskans need to be diligent not to simply give away our share of oil [Read More...]
Tax incentives should only be provided to fields that need support to produce our oil. Under SB21, massive and unnecessary tax breaks are being provided for harvesting our largest and most profitable legacy fields. The Fair Share Act provides greater incentives for new and developing fields and lesser incentives for [Read More...]
Yes. We want to attract as many new producers and explorers to Alaska as possible. A more competitive and economically viable North Slope will help Alaska by increasing jobs, investment, and production. As it stands today, only a few major producers, which have been reducing investment and cutting jobs, have [Read More...]
Yes. The Fair Share Act will keep an additional $1 billion per year in Alaska. This $1 billion will help save existing jobs put at risk by budget cuts and the consequential negative consequences to our economy, will help create new jobs through funding capital budgets for needed infrastructure, and [Read More...]
To put the current economic imbalance between Alaskans and our producers in perspective, one need only compare Alaska’s current economic circumstances with ConocoPhillips’ current economic circumstances. In 2018, while Alaska’s production revenues were $3.80 per barrel, ConocoPhillips’ profits were $26 per barrel from the sale of our oil. In fact, [Read More...]
Alaskans are getting less of a share than ever before. For decades, our greatest Republican, Democrat, and Independent leaders have honored our Constitution and applied common sense to ensure Alaskans get a fair share from the sale of our oil. In 2013, however, the legislature passed SB21. SB21 gives away [Read More...]
One-third of the gross revenues from the sale of our oil is a good standard to apply in determining if Alaskans are getting their fair share. Governor Hammond was a key architect of our economic relationship with the oil industry. He stated the original agreement was one-third to the state, [Read More...]
Oil on state lands belongs to all Alaskans. Our Constitution requires Alaskans get the “maximum benefit” from the sale of our oil. Today, Alaskans are not getting a fair share of the oil revenues and, in fact, are getting a smaller share from our largest and most profitable legacy fields [Read More...]
Under SB21 and existing law, our economy is suffering, our unemployment rate is the highest of any state, our essential services (such as education, health care, universities, senior services, the marine highway, rural power cost equalization, and public safety) are being cut.
The Fair Share Act is a bill proposed by a group of dedicated Alaskans to amend existing laws to permit Alaskans to get our fair share. The Fair Share Act’s main features are: The Fair Share Act only applies to our largest and most profitable legacy fields. It does not [Read More...]