BP President Says Oil Production Tax Debate Will Continue

BP of Alaska President John Minge rejected the argument by opponents of Parnell’s bill that it would amount to an annual $2 billion “giveaway” to producers.

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By Bill McAllister
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Story Created: Apr 18, 2011 at 5:09 PM AKDT

Story Updated: Apr 18, 2011 at 5:22 PM AKDT

By far the most prominent bill that failed in the regular legislative session was the cut in oil production taxes proposed by Governor Parnell.

But BP’s president in Alaska, John Minge, says that fight isn’t over.
 
Minge spoke today at the Anchorage Chamber of Commerce’s Make It Monday event.
 
He rejected the argument by opponents of Parnell’s bill that it would amount to annual $2 billion “giveaway” to the producers.
 
While it is difficult to be specific about projects until millions of dollars in engineering work is done, Minge said, he would guarantee far more than the $5 billion of new investment recently promised by Jim Mulva of ConocoPhillips, if the bill were to pass.
 
Although the bill is not on the special session agenda, Minge said the debate will continue.
 
"You might be asking, why bother, isn't it over. And it's not. This is really too important of an issue to give up. I firmly believe, I have absolutely no doubt in my mind that there will be a tax change in Alaska because the one that we have is not competitive. It is a matter of time."
 
Minge noted that the current throughput in the trans-Alaska pipeline – 640,000 barrels a day – is the lowest ever.
 
 

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Fox said on Monday, Apr 18 at 5:50 PM

It would be wise for those states used in BPs power play to co-ordinate attacks. Freeze assets and pay for the damage.

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ALASKA said on Thursday, Apr 28 at 12:17 PM

BP single handedly wiping out fishing industries and eco structures in all parts of the country and Gov Parnell wants to give them a $2 billion dollar tax break? hrmmmmmm I wonder who is stroking his pocket book right about now? SCANDALOUS!

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