Testify Today To Increase Oil Production
Who: Alaska Chamber Members
What: Testify in support of meaningful oil tax reform tonight.
Why: To increase production and support the Alaska economy
When: Today Wednesday, March 6 & Tuesday, March 12
Where: Your local Legislative Information Office (Click here to find the LIO nearest to you)
The Senate Finance Committee will be taking public testimony from Alaskans on SB 21:
Wednesday, March 6
3 - 5 p.m.
Tuesday, March 12
4 - 6 p.m
How: Use the following talking points and resources. Comments should be limited to two minutes, but don't forget to state your support for meaningful reform.
- We support the Governor's four key principles that tax reform: 1) must be fair to Alaskans, 2) must encourage new production, 3) must be simple, and 4) must be durable for the long term.
- Alaska's economic future is at state and our economy relies on oil and gas. To increase long-term jobs we need to increase production today, which is more important than the state making more money through high tax rates today.
- Alaska is about to become the fourth largest oil producing state in the United States. Right behind California. This is unacceptable. In 2012, Alaska's oil production averaged 547,000 barrels per day (bpd).
- Tax policy does have an effect on the oil and gas industry. Alaska's tax policy should generate more production from new fields and legacy fields alike.
- Exploration does not guarantee production. Companies currently exploring in Alaska, such as Repsol, support a change in the production tax structure.
- It takes an average of at least between 5 to 7 years to reach production if an exploration well is successful.
- Increased production would increase the health and viability of the Trans-Alaska Pipeline System (TAPS).
Other Testimony Resources:
Posted: March 6, 2013