Tuesday, June 18, 2013
BP Alaska President Supports Oil Tax Break
John Minge, BP Alaska President, talked to Alaska lawmakers today—promising that by lowering taxes it will bring more investment from producers.
Oil giant BP added its voice to the growing debate over proposed cuts to the state’s oil tax structure, Alaska’s Clear And Equitable Share, or ACES.
Alaska Exploration President John Mingé addressed about 200 supporters at a Ship Creek warehouse Thursday afternoon.
Mingé says if Gov. Sean Parnell’s proposed changes are passed, the state can expect a renewed flurry of investment by producers.
His remarks come less than a week after ConocoPhillips Alaska CEO Jim Mulva said his company would invest up to five billion dollars in the state before the year 2020, providing the tax changes make it through the Legislature.
Mingé says that number would be even higher and staked his career on claims that lower taxes will help, not hurt, the state.
The tax package passed the State House, but died in the Senate and will remained tabled for the remainder of this session.
Carlile of Alaska President Linda Leary says her trucking company could be looking for a lower economic gear if the Legislature does nothing on oil taxes. She claims her business has lost twenty percent of its revenue since ACES rates were reset in 2008.
BP says it will continue to press both lawmakers and Alaska residents to lower oil and gas taxes, but warns time is running out to save thousands of local jobs and millions in earnings for Alaska companies.