Stable. Predictable. Competitive.

Keep Alaska open for business

While the State of Alaska struggles to balance the state budget, the oil industry is also struggling to make ends meet in the current low oil price environment. Industry-wide, companies are losing $2 billion each week at current prices (source).

Alaska’s oil tax system is balanced and working as intended. But changes to allowable tax credits or raising the minimum tax in an effort to cover the state’s budget shortfall in the short-term will have unintended impacts that would take years to recover.

A change in the oil tax system, as proposed by the Governor and some legislators, could completely shut down operations for some projects, and will significantly change the economics for others, leading to lower investment in the state. With a shaky economy, it is more important now than ever that the state maintain stable, predictable, and competitive policies that encourage investment and employment to Alaska.

Tell your lawmaker that you support keeping the OPEN FOR BUSINESS sign on.

 

Contact Your Legislator

Enter your information below to automatically send this email to your state legislator and add you to the online petition.

Dear [Legislator Name],

I support Alaska’s current oil tax policy, including tax credits, which has brought new exploration and continued investment to Alaska.

Oil companies can operate anywhere in the world, and we want them to spend their dollars here, adding more oil to the pipeline. Our current tax policy makes us competitive with other world markets and attracts business to our state, bringing jobs and investment HERE.

As an Alaskan, I believe that while we cannot control the price of oil, the federal government, or our geology, we CAN control our own state laws, policies, and regulations. We MUST create a business-friendly environment that signals our desire for more oil and continued investment. What kind of message are we sending when we look to change the oil tax policies every time the price of oil increases or decreases?

Current business-friendly tax policies are working. Please keep the “Open for Business” sign on in Alaska.


Sincerely,
[Autofill, Name]
[Autofill, location]

The Issues

Click to learn more

Tax Credits

Tax Credits are an investment in our future.

And they’re working.

Tax credits are incentives that encourage certain behaviors by reducing a person’s or company’s tax liability. In the same way that people can earn a tax refund from the IRS for child care credits or student loan interest, the state attracts companies to Alaska by offering credits for investments. Tax credits are, in essence, the State of Alaska holding up a sign to the world that says “We are open for business.”

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Minimum Production Tax

Minimum tax change.

Big Impact.

While one percentage point might not sound significant, it is a 25 percent increase when it is added to a four percent tax. In other words, raising the minimum tax is big enough to cause significant impacts on producers at today’s oil prices.

According to the Revenue Sources Book, the average cost to produce a barrel of oil on Alaska’s North Slope is almost double the price of the same barrel of oil before any taxes are paid. While the state is facing a massive budget deficit, in part due to low oil prices, the industry is also facing massive shortfalls at these prices.

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Q&A

Q&A

Do you have a question about the oil and gas industry and/or the impact of State of Alaska tax policies on the industry? Click below to ask your question, or see questions posed by other Alaskans and the responses.

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Signatures in support of investment in Alaska:

D.J

Anchorage, AK

October 25, 2016

Signature #447

E.M

Anchorage, AK

May 29, 2016

Signature #446

S.K

Kenai, ak

April 30, 2016

Signature #445

J.M

Anchorage, AK

April 20, 2016

Signature #444

T.G

Anchorage, AK

April 20, 2016

Signature #443

J.R

Sterling, AK

April 19, 2016

Signature #442

D.H

Anchorage, AK

April 19, 2016

Signature #441

C.M

Anchorage, AK

April 19, 2016

Signature #440

C.L

wasilla, ak

April 18, 2016

Signature #439

M.G

Anchorage, AK

April 18, 2016

Signature #438

J.D

Anchorage, AK

April 17, 2016

Signature #437

D.H

Anchorage, AK

April 16, 2016

Signature #436

N.S

Anchorage, AK

April 16, 2016

Signature #435

D.H

Anchorage, AK

April 15, 2016

Signature #434

s.p

Anchorage, ak

April 15, 2016

Signature #433

M.G

Soldotna, Alaska

April 15, 2016

Signature #432

C.W

Sterling, Alaska

April 15, 2016

Signature #431

B.B

Kenai, AK

April 15, 2016

Signature #430

J.O

North Pole, AK

April 15, 2016

Signature #429

N.C

Grand Junction, CO

April 15, 2016

Signature #428