The Alaska Oil and Gas Association released the following statement in response to the introduction of oil and gas tax legislation in the Alaska State House and Senate, expressing concerns about the impact of proposed tax increases on Alaska’s competitiveness, investment climate, and long-term security:
“The Alaska Oil and Gas Association is opposed to increasing taxes on oil and gas production, development and exploration. Alaska competes globally for capital in a highly dynamic and volatile energy market, and additional taxes would undermine the state’s competitiveness at a critical moment for investment decisions. Policies that discourage investment also threaten long-term production levels and the viability of the Trans-Alaska Pipeline System, which is essential to Alaska’s economic well being. At a time when the federal administration has called for the responsible development of Alaska’s energy resources to strengthen U.S. energy and national security, moving in this direction risks pushing investment in Alaska the wrong way.”