Alaska boosts oil production taxes, may do more; industry alarmed

[Judi Lynn]

Alaska boosts oil production taxes, may do more; industry alarmed
Saturday, January 15, 2005

By MATT VOLZ
Associated Press Writer

JUNEAU, Alaska -- North Slope crude oil has averaged more than $41 per barrel this year, pouring revenue into Alaska's treasury, erasing its budget deficit and creating a surplus that could be used for education or other state programs.

But now several Alaska lawmakers and administration officials are asking: Are we giving away our oil too cheaply?

Last year, the state took in $652 million in oil production taxes, plus $1.1 billion in unrestricted oil royalty revenue, $299 million in corporate income taxes and $47 million in oil-related property taxes, according to the state Revenue Department.

But on Wednesday, Republican Gov. Frank Murkowski said he was changing how production taxes are calculated for Prudhoe Bay and six satellite oil fields. The change, effective Feb. 1, will mean a $150 million annual tax increase for the biggest field on the North Slope, according to ConocoPhillips Alaska Inc.
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http://www.napanews.com/templates/index.cfm?template=story_full&id=85EDF384-E35E-45D1-95B0-BA12E03651FE

[SoCalDem]

1. Three birds..one stone

Higher prices for oil = more $$$ in fatcats' pockets
Higher taxes mean less money to the "Oil Dividend to Alaskans"
Higher taxes means more money to a Republican state

[saigon68]

2. The Greedy Corporate Thugs and the Bush Criminals are pissed

Imagine this extra money going to "SOCIAL PROGRAMS"


Rather than into some Oil corporation slush fund, to buy a few more Corporate jets and Condo and Vacation houses in St Bart's or St. Kitts

The yearly bonuses for these Corporate skunks will be reduced by miilions too.

LOL

[Canadian Socialist]

3. I wish

the Klein government in Alberta would hike up the royalty rates. We are practically giving it away to the States. Did you Americans know that the majority of your oil/gas comes from Canada and specifically from Alberta? No. Didn't think so. Cause we don't want to be invaded. Dont't spread this info around. 'Kay?

[Canadian Socialist]

4. Oh Oh

I forgot to mention the majority of the electrical power you have comes from Canada. Hydro from B.C. and Manitoba, nuclear/hydro from Ontario. So... don't piss us off. Or we WILL cut off the lights <lol>

[roguevalley]

5. the companies at prudhoe pay from zero to nothing much more in

taxes now. MurTAXski wants a jet. This may be his way to get it and he's due for re-election soon. A corpse has more of a base in Alaska right now than him.

[UL_Approved]

8. The rest comes from Montana and North Dakota

Where corporate give-away is just as prevalent. Two more exploited backwaters of the Western world...

[ausiedownunderground]

6. Well done Alaska - Give "Bushco" everything you've got!

It was reported in the papers today in OZ that most US states are suffering under "Bushco" to various degrees, especially Maine. However a few states are actually "Kicking ass" like Alaska and Wyoming - Is this an oil thing? But Rupert Murdoch told OZ in February 2003 that if we "kicked" Saddam's "Butt" oil would be $13 OZ dollars a barrel (Thats approx $20US a barrel) for those that don't read OZy,up in arms and the glorious 54 nickel's economic updates on DU.

[hollowdweller]

7. Will we invade? US Korporate interests at stake!