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Testify Today To Increase Oil Production

Action Alert                                                             March 6, 2013

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)

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.

 

Talking Points:

• 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:

Alaska Chamber's Full Talking Points

Alaska Chamber Testimony on SB 21

Make Alaska Competitive Coalition

Governor Sean Parnell's Weekly Oil Tax Message