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OPINION: Oil taxes falsely advertised as highest in North America

June 15th 5:14 pm | Ray Metcalfe Print this article   Email this article   Create a Shortlink for this article

The U.S. Department of Interior published a worldwide comparative analysis of taxes on oil profits. (Profits: Distributable cash remaining after production and shipping costs are paid.) It placed Louisiana's tax at 85 percent; Federal waters off Louisiana 79 percent; and Texas and Alaska 76 percent. Governor Parnell, told the Alaska Oil and Gas Association's (AOGA) Make Alaska Competitive luncheon: "Alaska's tax equated 72 percent." Common Wealth North published 73 percent. AOGA parrots Interior at 76 percent. Mexico's government publications show a tax equivalent of 94 percent. However AOGA falsely advertises that Alaska's oil tax is the highest in North America? Parnell's Deputy Commissioner of Revenue told our Senators the same. Representative Hawker said it in the Anchorage Daily News. Their continual repeat of this false claim is the basis for their argument that Alaska is "uncompetitive." It's their rational for diverting 30 years worth of future PFD's into the pockets of the oil-company share holders that fund their campaigns. Months ago, I delivered proof of Mexico's 94 percent tax to Parnell's Commissioner, Hawker, and AOGA. No response, no corrections. Where is the integrity?

 Ray Metcalfe

Anchorage

 


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