It's Our Oil
Wednesday, May 14, 2014
Reason #16: As owners of our oil, Alaskans deserve to be compensated fairly for our most valuable resource.
Senate Bill 21 denies Alaskans a fair share of our oil wealth, particularly when industry profits soar. Our prior tax system enabled us to grow our savings to $17 billion. Under the new system, these savings will likley be drained within the decade.
Monday, May 5, 2014
Friday, May 2, 2014
Reason #14: Under SB 21, the Giveaway, oil production is forecast to decline 40% from today to 2023.
Governor Parnell promised that slashing oil taxes would increase production. But now his Department of Revenue predicts a 40% production decline from today through 2023. This is a far cry from the million-barrel-a-day goal he set when promoting The Giveaway.
Tuesday, February 4, 2014
Saturday, November 9, 2013
Reason #12: Senate Bill 21, the Oil Tax Giveaway, is a bad business deal for Alaskans.
ACES,
our former tax system, was fair to all parties. It yielded handsome profits for
the oil industry (more than $36 billion in 6 years) and Alaskans ($26 billion
in production taxes in 6 years).
Reason #11: Senate Bill 21 will plunge Alaska into deficit spending.
Reason #10: Senate Bill 21 will drain Alaskans’ savings.
Under ACES, our savings grew to $17 billion, giving Alaskans the biggest
state savings accounts in the nation. Under SB 21, our most accessible savings
account – the Statutory Budget Reserve – will likely be wiped out by 2018,
leaving Alaskans empty-handed.
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