Big Oil Gets a Big Win on Taxes in Alaska
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Energy companies will continue to enjoy a favorable tax structure in Alaska following a referendum vote on a state law that has stirred passions about how generous Alaskans should be to their signature industry. Now both supporters and opponents of the law are looking to see if Big Oil companies will boost production, one of the hotly contested points in whether the law was helping or hurting Alaska’s economy.
“It’s now time for companies to put their money where their mouth is, move those billions of dollars into work for Alaskans,” Republican Governor Sean Parnell said at a news conference, after the effort to repeal his 2013 law failed.