Article VIII of the Alaska Constitution states that Alaska’s resources should be managed as a public trust, providing for “maximum use consistent with the public interest…for maximum benefit of the people.”
Current Alaska oil legislation (ACES) allows oil companies to make ample profits, whether the price of oil is high or low.
Governor Parnell wants the Alaska Legislature to lower taxes on oil production. Contrary to Gov. Parnell’s assertions, in public testimony the oil companies have promised nothing in return for this free windfall: no increased development, production, or investment. Oil prices and profits are the highest they have ever been.
Please say NO to lowering oil taxes.