Assuming the purpose of the new PPT system is to encourage more production and generate more tax revenue for the state at higher prices, can someone explain why it needs to be "fixed" in the upcoming special session? In fact, the new PPT created nearly $1 billion in additional state revenue in Fiscal Year 2007 than the previous system would have. As such, I can only conclude the upcoming special session is yet another attempt by her highness to milk some "good-guy bad-guy" media for her own personal gain.
My suggestion is to look at lowering the taxes on Heavy Oil. Most of the remaining oil on the North Slope is in the form of known heavy oil deposits -not new deposits. And if we want to encourage new development of these known heavy oil deposits -there needs to be some incentives, which don't currently exist. Focusing on additional production through new exploration of new oil deposits is a lost cause -relatively speaking of course.
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The odd people and the odd politics in Alaska
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- Stags_Leap
- “I once had a rose named after me and I was very flattered. But I was not pleased to read the description in the catalogue: no good in a bed, but fine up against a wall.” - Eleanor Roosevelt
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