State Should “Dip into the Rainy Day Fund”: Oil Execs

first_imgHomer’s Representative Paul Seaton was there asking industry representatives for help in designing “thoughtful” cuts to the program. Walsh: “I’d like to think that we could assume that the tax structure is going to be stable. What we heard yesterday from the producers is they’re in the middle of these projects they have funded and sanctioned within their companies based on the tax structure that’s in place right now. If you change that right now, that blows them out of the water and it gives the state of Alaska such poor credibility.” FacebookTwitterEmailPrintFriendly分享Colorful debate over the state’s oil and gas tax credits system was held today in the House Resources Committee… Tom Walsh of Petrotechnical Resources of Alaska petitioned the Committee for “stability” in Alaska’s taxes…center_img Walsh accused the state of taxing oil companies when prices are high and taxing again when prices drop. Rep. Josephson: “Since I sat down this afternoon in this chair, my state has bled half a million dollars in red ink.Alliance: “Be sure that industry has weathered this storm before and knows how to batten down the hatches until oil prices recover. The state can sink the ship by overtaxing.Rep. Seaton: “Sounds like the recommendation is that you’re going to cut costs, you’re going to do those things, but the state should not, the state should continue to give, last year it was $628 million of refundable tax credits to the oil industry.”last_img

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