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Politics : Politics for Pros- moderated

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To: Snowshoe who wrote (259188)	12/2/2009 5:52:38 PM
From: Snowshoe	of 794104

Alaska oil taxation update: With Palin's departure and the collapse of the federal corruption prosecutions, echoes of the old political pattern are slowly re-emerging here. I expect they'll hold us hostage until Alaska finally knuckles under and rolls back the huge production tax increase that Sarah and her former liberal/moderate pals rammed through... Oil companies curtail work on North Slope adn.com John Minge, president of BP Exploration (Alaska) Inc., told RDC members his company has three big challenges in Alaska right now: oil production continues to decline, costs are rising and taxes have increased. He said it is more appealing to an oil company like BP to invest money in the Gulf of Mexico than it is in Alaska right now, because the tax structure "is more inviting there." He said the North Slope's vast amounts of heavy oil is not economic to develop right now given current oil prices and the state's tax structure. Alaska's Oil & Gas Industry: Speaking French andrewhalcro.com Helene Harding, ConocoPhillips vice President of North Slope operations and development announced that for the first time in 45 years the company will not drill a new well in 2010. Harding went on to say that the company is shifting its focus to federal lands, which have a far more attractive tax structure than state land.

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