Members of the Alaska House used the announcement of a major oil find on the North Slope to stake out positions in the politically charged debate over oil taxes and credits.
On Thursday, Spanish energy company Repsol said the find could amount to about 1.2 billion barrels of recoverable light oil. Repsol calls it the largest U.S. onshore oil discovery in 30 years. The company has partnered with Armstrong Energy LLC,
The announcement was hailed by Gov. Bill Walker and state Sen. Cathy Giessel, who chairs the Senate Resources Committee.
But it laid bare a divide in the Alaska House over proposals to overhaul the state’s oil tax and credit structure. Lawmakers are debating whether to further reduce incentives aimed at encouraging oil activity amid a multibillion-dollar state budget deficit.
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