Stop Cash Payments to Oil CompaniesBy Dan Ortiz March 27, 2017
The current system is overly generous, without economic cause, to outside oil companies. We are the only oil regime in the world who pays cash to oil companies, and that structure has not served Alaskans. House Bill 111 will make adjustments that ensure the system works more fairly for Alaskans. We will maintain a competitive oil tax regime that is comparably better than many of our competitors; Alaska is attractive to oil companies, and this legislation will not dissuade any companies, from small independents to the major names in oil and natural gas, from being part of the Alaskan resource economy. The Alaska State Legislature has a duty owed to the people of Alaska to maximize our natural resources for the maximum benefit of the Alaskan people; The State of Alaska Constitution states, “The legislature shall provide for the utilization, development, and conservation of all natural resources belonging to the State… for the maximum benefit of its people.” HB 111 will stop cash payments to oil companies, and ensure Alaskans are getting a fair price for our oil. I’m continuing to work with my colleagues in House Finance Committee to tweak House Bill 111 and identify innovative ways to benefit Alaskans, but I can confidently state that House Bill 111 is already shaping up to serve the best interests of Alaskans. For more information on House Bill 111, you can call my office at 247-4672 or email me at rep.dan.ortiz@akleg.gov Rep Dan Ortiz Received March 24, 2017 - Published March 27, 2017 Related: HB 111
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