AOGA opposes latest version of SB 192
The Alaska Oil and Gas Association officially opposes SB 192 version Y as passed this week by the Senate Finance Committee. The Senate’s latest version of the bill fails to provide the incentives for increased industry investment and oil production from North Slope fields.
As AOGA’s member companies have testified, SB 192 actually increases taxes further for some producers. The bill has also failed to solicit investment commitments from any of our members, in contrast to the $10 billion in commitments made in response to HB 110.
SB 192 Version Y will clearly not accomplish the goal of increasing production in TAPS in a meaningful way.
AOGA believes it is better for the Legislature to pass something meaningful. SB 192 is not the solution and the Senate should not pass it.
AOGA members testify against SB 192
Several AOGA members testified before the Senate Finance Committee on SB 192 last Friday and overall, the industry is opposed to the bill because it does not sufficiently change the tax structure to encourage increased oil production. AOGA and its 16 members continue to advocate for meaningful changes that will give the state’s largest economic driver a kickstart.
Even though the session is in its final days, your voice still matters. We encourage you to read the testimonies of our members and to contact your legislators. You can encourage them to make meaningful reforms now, and to vote no on any bill that does not provide for positive changes.
You can review the testimony from last week’s Senate Finance Committee meeting here.