Alaskans own the oil. As an owner state, Alaskans are in a business partnership with our producers to explore for, develop, and sell our oil. Only one of our producers has an obligation to make public its financial performance in Alaska, and that producer does not break out its performance by field. The existing law simply does not allow us to know how our producer partners are doing in each of our major legacy fields.

Instead of making public the revenues, costs, and profits for the producers for each of the major legacy fields, Alaskans are provided with selective, partial, and often misleading information. To have the very best oil resource policies and to ensure we are recovering the maximum benefit from our oil, it is essential that Alaskans have reliable and accurate information.

The Fair Share Act requires producers to report the revenues, costs, and profits for each of the major legacy fields.