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BP Exec: Alaska should change oil taxes

Posted: March 14, 2012 - 10:57pm

JUNEAU — The president of BP Exploration Alaska on Wednesday called the state’s current oil tax structure “a going out of business policy,” saying that without changes, investment by his company will stay flat, at best, in the short term and be scaled back in the long run.

John Minge is in Juneau, making a pitch for more sweeping changes to oil taxes than the Senate has proposed. He spoke with The Associated Press Wednesday.

Under the current tax structure, known as Alaska’s Clear and Equitable Share, or ACES, there is a 25 percent base tax rate and a progressive surcharge triggered when a company’s production tax value hits $30 a barrel. The idea, when the law passed in 2007, was that the state would help companies on the front end and share profits with them when oil flowed and prices were high.  

But the industry says the surcharge eats too deeply into profits when oil prices are high and discourages new projects and drilling. Industry has spoken in favor of Gov. Sean Parnell’s plan, which goes farther than the Senate plan in cutting taxes but is still merely seen by Minge and other industry officials as a good first step.

The Senate Finance Committee plans to spend at least two weeks on the oil tax issue. On Wednesday, Revenue Commissioner Bryan Butcher said Parnell’s plan, a non-starter in the Senate, isn’t the only way to meaningful change that will cause companies to invest more. But his suggested improvements to the Senate bill, SB192, were all elements of Parnell’s proposal.

Critics have called Parnell’s plan a corporate giveaway, with no firm guarantees the companies will invest any more in Alaska if their taxes are slashed. Parnell has countered by calling the Senate plan a giveaway, saying it cuts taxes but not enough to change investment behavior.

Minge said he’s not wedded to Parnell’s plan but wants to see a bill of the same overall magnitude. 

BP and ConocoPhillips, two of the North Slope’s main players, have talked about $5 billion in new investment — gross, among companies — if tax changes on the order of what Parnell is proposing are enacted. The other major player, Exxon Mobil Corp. also must agree under terms of the Prudhoe Bay operating agreement but has so far been publicly silent on the figure. 

Minge said there’s never been a problem getting all the companies to agree on economic projects. He said $5 billion would be just the start. 

That level of new investment won’t happen under ACES or the Senate plan, he said. 

“We will lobby against a tweak to ACES because we don’t believe that’s the right thing for Alaska,” he said. “We believe that’s a giveaway ultimately. It’s up to our elected officials to make a choice.”

Some lawmakers see progressivity as being out of whack; others see ACES as working as it was intended to work. 

Minge said the aim of ACES seems to be to “rip out as much money” as possible from the industry. An overhaul of ACES now would be the best thing for the state, he said.

“The state of Alaska and the producers are in the same business: We’re in the oil business,” he said. “We make billion-dollar investments early, and we take our returns over many years. So in the short term, the state does pretty well under ACES, but it’s a going out of business policy.”

If changes aren’t made, in the long term, “we would have to start to adjust, and take the necessary steps, which would include starting to shutdown infrastructure, not working on certain projects. So we would definitely react,” he said. “But in the short term, at best, I think we’d stay flat” with investment.

He did not define short term or long term.

“What we need is a tax policy that creates a sustainable, 50-year future,” he said.

Minge wants to see progressivity bracketed, so that different portions of the production tax value would be taxed at increasing incremental levels. The Senate Resources Committee, in crafting the current version of SB192 earlier this session, rejected efforts to bracket. 

Minge also thinks the base tax rate is too high. That issue isn’t addressed either by Parnell’s plan or the SB192.

There has been talk during Senate presentations about tax breaks for the more difficult or expensive to-get-at oil, like heavy or viscous oil. Minge said that’s picking “winners and losers” and doesn’t help companies now.

“We need tax reform on the base business to allow us to be more economic,” he said. “We know how to pick the winners and losers. We know how to pick the right investment at the right time. That’s what we do.”

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Norseman
3593
Points
Norseman 03/15/12 - 10:53 am
2
0
adios bp

If you do not like our oil tax, then go drill in Russia, or Venezuela, or Iran. I am sure there are other oil companies that would be more than gratefull to have the opportunity to work with Alaska in extracting it's oil resources.

Big Oil has been making record porfit after record profit and they are complaining???????

That oil in the ground is just like gold in Fort Knox. What do you think that oil in the ground may be worth in 10 years?

I for one am sick and tired of hearing big oil putting a "spin" on..."we cannot make enough money in Alaska..."

These are THE richest corporations in the world. How do you think they got so rich? Time for Alaskan's to have some kahonies and tell em, take it or leave it.

That oil belongs to all Alaskans and we deserve to get our fair share when oil prices are high, and back off on the taxes when oil prices are low. Call or write your legislatures and tell them to protect Alaskans interests in oil and STOP giving handouts to the richest corporations in the world.

akal
252
Points
akal 03/15/12 - 11:00 am
1
0
leave already

we need to get more independent oil companies on the north slope , BP just isn't right for Alaska. what a bunch of clowns.

Jerry
0
Points
Jerry 03/15/12 - 11:27 am
1
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Yeper, it's time for a going

Yeper, it's time for a going out of business & it needs to be bp. As i have said before it's all about their pockets & trying to dictate what Alaskans do with OUR oil.

It's the same thing with pebble mine, owned by a Canadian company, they want to reap the majority of profits, as well as destroy Alaska.

Lets just say for argumants sake that someone wanted to force people into some sort of dependance on Big Oil or Big Govt.
Whats the thing they would do to try & accomplish this goal in relation to lets say oil?
Would they try & wait us out on oil sale prices, or taxes, in hopes that we would buckle under?
What would this do to the price of oil & gas, would it raise the prices, which in turn would also raise the prices of everything else?
Would this cause much pain at the pump & also with everything else one needs to survive daily life in Alaska, or else where?

I have a GR8 idea.
What say lets allow bp to have their going out of business in Alaska, then we can sell OUR oil to whom we want & allow it to flow freely from OUR endless supply up north, all the while also reducing OUR costs at the pump?

What are they, bp & big oil gonna do, attack Alaska & take over OUR oil fields?

It's all a desire to force control on We The People.

Jerry
0
Points
Jerry 03/15/12 - 12:23 pm
1
0
P.S. Bp please include Exxon

P.S. Bp please include Exxon in on your going out of business sale as well, as they too are suffering from lack of oil revenues at OUR expence. Please!!

larrygwen
0
Points
larrygwen 03/15/12 - 01:41 pm
0
0
Big Brother & Big Oil

In the midst of an election year, tied to a flurry of headlines about  high prices for gasoline, there have been a lot of questions about the value and significance of government subsidies for the oil and gas industry.

Call them subsidies, or tax breaks, or credits, the question is not about semantics, it's about evaluating whether one of the most profitable industries in the world needs a government benefit. Do we really believe that ACES and the State of Alaska have a "going out of business policy" that has that much affect on these giant oil companies?

The large subsidies by governments lead to massive overconsumption. Surging demand drives up the price of oil. This same high price of oil, however, is also what ends up refilling government coffers, allowing administrations to maintain subsidies and fund other, non-energy-related activities. A “Catch 22”.

spwright
1376
Points
spwright 03/15/12 - 02:29 pm
2
0
Have Alaskans Forgotten ?

Thur 3/15/12
Have Alaskans forgotten that British Petroleum contributed to the Death of Their Own Employees then created the Largest Oil Spill in American History & now the CEO is demanding a change in the Tax system in Alaska.

WHY do We still do business with B P ?

SPW "Airborne"

steelhorse
48
Points
steelhorse 03/15/12 - 03:21 pm
0
0
I have one word for what this is called

extortion

ok I have another word for BP: hubris

kenai_kid
222
Points
kenai_kid 03/15/12 - 04:14 pm
1
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Coming soon.

The Alaska Oil companies may be doing exactly what everyone is asking .... moving out ... soon.
Some facts to brighten your day:
7 of ten major oil spills recorded a year (1000 bbls or more) are committed by independent "small" oil companies.
40% fall into bankruptcy as a result and the spills are never entirely cleaned up. Will a small player be able to deal with an aging field and it's constant need for maintenance? Or will they simply milk the cow until it's dry and hope for the best in the mean time.
Of small independents that acquire aging fields, their plan is to soak the last few "cheap" barrels out and sell to a smaller independent that is even less financially equipt to run the field and the infrastructure suffers.
There are literally billions of barrels still in place in Prudhoe Bay, but it is a very difficult oil to recover and will require billions of dollars in investment to extract.
The oil companies have been hugely profitable, but I contend that a miniscule portion of those porfits come from Alaska's North Slope.
The greed of the oil companies may be true, but please, look at your own greed. You have had no state income or sales tax and we are sitting on $40 billion while we complain about our own crumbling enfrastructure.
I believe we are cooking our own goose should we not make investment in the slope more appetizing... but only time will tell! I may be wrong!

bornalaskan
31
Points
bornalaskan 03/16/12 - 01:50 pm
0
1
Oil

Why doesnt Alaska drill its own oil. Like the PFD and the profits could go back to the people. Wake up Alaskans.
When was the last time any oil company offered a Dividend back to its customers. They just raise there prices to make more profit.

kenai_kid
222
Points
kenai_kid 03/16/12 - 01:39 am
1
0
re: oil, bornalaskan

A state run oil company? Like Total (France) Aramco (Saudi Arabia) Pemex (Mexico) and PetroVen (Venezuela). That exactly what we need is a government run oil company! Everyone knows a government is the best entity to handle matters of money.

spwright
1376
Points
spwright 03/16/12 - 07:50 am
1
1
Aramco ? 3/16/12

The last that I heard, The People of Saudi Arabia are Paying
.91 Cents per Gallon of Gas & the Saudi Royal Family are Laughing All the Way to the Bank.

So that Government Operated Oil Company seems to be working very well in Saudi Arabia.

What Say You ? Retiree SPW "Airborne"

Norseman
3593
Points
Norseman 03/16/12 - 08:12 am
0
0
spot on SPW

spot on SPW

Jerry
0
Points
Jerry 03/16/12 - 10:00 am
0
0
I do feel that Tesoro seems

I do feel that Tesoro seems to be bending us over the oil barrel as well. $4.87 for deisel fuel, really?
What a scam this is by OUR local refinery. Shame on them, who needs neighbors like those running Tesoro, especially when they look just like BP or Exxon??

What do ya want to bet that as a State run oil company that we would never run out of oil or gas in Alaska? If that was the case Saudia Arabia would already have run out with all that they supply the world.

I know that many don't believe that oil & gas are a renewable resource, but they really are, just like all most everything God created is a renewable resource, all ment to provide for humans.
It's the controlers that wish to rule over other humans & exert power over others that make up these BS lies about earth & whats really going on with resources. And we buy into their lies daily, like global warming, which by the way is going on in the north of the USA, but it's all due to the suns massive eruptions & gama rays bombarding earth, not because we drive cars or manufacture goods.

God never ment for men to rule other men, God said for man to rule over all his creation, of which other men was not a part of that domain.
Sorry i went off here, but this is really starting to get on my nerves this supposed BS of we are out of oil unless we lower the taxes for Big Oil companies, then Wallahhhhhhhhh, it's a miracle, more oil.

kenai_kid
222
Points
kenai_kid 03/16/12 - 11:29 am
1
0
SPW Review:

I have an idea! Let's have a government car company too, and a government, grocery store, how about a government insurance company or better yet, a government hospital! It should make all these commodities cheaper. We should subsidize gas prices on a national level! Wait ... we DO! In the form of tax breaks that we are discussing here! That's why we have cheaper gas prices than almost any westernized nation.
Saudi Arabian gas prices... Maybe we should pattern other things after Saudi Arabia as well! Women aren't legally allowed to drive. 1 in 3 adult males drive. Public transportation is the most widely used mode of transportation. We could have gas prices comparable to Venezuela ... .12 cents.
SPW, I know you're a vet! I thought you fought for our system of economics and government. We are C A P I T A L I S T 'S not S O C I A L I S T 'S. Every time government interferes in free market economics, it ends in disaster! You don't have to look far to see Alaska's success in the free market! Not to good! A loss of hundreds of millions in the fishing industry, more in the electricity business, How about the dairy business! We owned a dairy for a while there ... remember??? Back when we had nickel a gallon milk! These are just a few of the countless failed state operated business ventures. There are more!!!
Since fuels are traded worldwide the trade prices are similar, the price paid by consumers largely reflects national pricing policy: some regions, such as Europe and Japan, impose high taxes on gasoline; others, such as Saudi Arabia and Venezuela, subsidize the cost. Do you really believe our state government would give us even $2.00 gas if they operated the oil fields AND the refineries?Then we will have to have state run gas stations! This is sounding to good to be true ... BECAUSE IT IS TO GOOD TO BE TRUE!

Norseman
3593
Points
Norseman 03/16/12 - 12:17 pm
1
0
Kenai kid please tell us your

Kenai kid please tell us your relationship with big oil? You work for them? Family member perhaps?

Capitalism is at work here. If someone feels that whatever business it is, can no longer be profitable, they fold up shop and someone else steps in.

Same thing applies here. If BP feels that our State tax is "going out of business policy", then let them go out of business. I gaurantee you 100% that someone else will step right in and be tickled pink to do it.

What I have a MAJOR problem with is the continued pandering and handouts to big oil all while they make record profit after record profit. I am not against anyone making a profit. What I as an Alaskan wants, is our fair share, nothing more, nothing less.
I can no longer stand idly by while big oil strongarms, bribes, makes false promises, etc., to threaten Alaskans that they will go out of business if they don't get what they want.

Don't let the door hit ya where the good lord split ya.

Another oil company will gladly take over the leases and be happy to have Alaska as a partner. They don't need armed body guards body here, nor do they have to fear of a government take over of all their assets.
Best time they move on and let Alaska find more appreciative partners in the oil industry.
After all, oil companies are among the richest corporations in the world. Let em earn not, not steal it.

witchwitch
51
Points
witchwitch 03/16/12 - 12:51 pm
1
0
Alaska is NOT a pure capitalist state

Before the ACES legislation, which significantly increased revenue to the state, our state operated under ELF legislation (Economic Limit Factor). At the time it was repealed by ACES, ELF legislation reduced the oil producers payment in the Kuparuk oil field to ZERO for severance tax to the state, under the guise that oil producers were ECONOMICALLY DISADVANTAGED.

Now there are those who'd like to roll out their American flag and apple pie argument that supporting fair payment for oil that belongs to all Alaskans is socialist and against American values.

Treating Alaska like a colonial resource by giving the corporations huge tax breaks as a reward for their production of Alaskan oil is not in the best interests of Alaskans. If you owned oil under your property, would you consider it un-American to receive payment for YOUR oil.

If you don't want to pay for the oil that your corporation extracts, then pack your bags and leave. That's your right. This is Alaskan oil. BP is not losing money, nor has their corporation been cheated.

If you consider the convictions of Bill Allen and his associates with the sweetheart legislation passed by their elected cronies, who gave away Alaskan oil profits to corporations for years, it's pretty clear that it hasn't been Alaskans cheating these poor corporations out of their hard earned $billions$.

spwright
1376
Points
spwright 03/16/12 - 02:09 pm
0
0
Social Disorder

Fri 3/16/12
As explained in a earlier message, I have a SOCIAL DISORDER that I can't seem to control.
Just the words British Petroleum & Exxon make My Blood Boil.
I do not hate the Oil & Gas Industry I do hate B P & Exxon.
They have Proven time & time again they Can NOT be Trusted yet we continue to do business w/ them.

Ask any Veteran IF Capitalism becomes a important issue when Live AK 47 Rounds & RGP's are flying at You.
Doesn't even enter the mind of a 19 yr old Draftee.
Those are issues for Old, Fat White Men 1000's of miles away.

If i would AGREE with You then We would BOTH BE WRONG.

THINK SPRING ! SPW "Airborne"

Jerry
0
Points
Jerry 03/16/12 - 02:17 pm
0
0
My main point is that BP &

My main point is that BP & Exxon & other big oil are pretending that Alaska is running out of oil & it's real hard to extract it under these tax burdons they are under.
BUT!! GR8 news, if we lower Taxes, they will be able to allow the free flowing oil to do so again, no matter how hard it's supposed to be.
I see it as nothing but a waiting game & they are getting tired of waiting as their bonus's are suffering due to the lack of AK oil sales.

I'm not for Govt. take overs but am mearly saying that it sure would be better than what they are doing to us. Besides that We The People of Alaska will be running the company & can surely boot out those State elected officials far eazier that Federal one.

kenai_kid
222
Points
kenai_kid 03/16/12 - 05:43 pm
1
0
Jerry, BP is not claiming Alaska is running out of oil

Jerry, we the people of Alaska ran Matanuska Maid as well. AND BP is not saying Alaska is running out of oil. They are however, saying that the legacy fields are producing less oil and more water.
SPW- As for your military service (which I appreciate) No one is THINKING anything but staying alive when lead is flying. However, when you are in the service, you are there as a defender of the American people and our way of life. As for your comment about "if we agreed then we'd both be wrong." That's sort of how politics is what runs Washington now a days. No one wants to be objective, they simply vote what the party tells them to vote. My guess is you are more than likely a far left Democrat. Would I be correct? You vote strictly party regardless of who is running or what the issues are. That way the research is easy!!!
Norsman, I like one in three of those working in Alaska, work directly or indirectly for the oil industry. So what is it you do? Are you a state public employee retired or current? Or are you in the retail business? Possibly the tourism industry, or are you a guide? It's obvious you're not an educator since no matter who runs the oil field, EXXON, BP, Conoco, Murphy or Pioneer, they will need someone to operate it. I will have a job! I debate objectives and sense, not emotion irrational unfounded "facts"!
So, out of ALL of you wanting a state run oil company or griping about the taxes, can ANY of you tell me Alaska's share in royalty, production and property tax At $100 a barrel? Is it A) 25%, B) 36.7% C) 49.1% or D) 68.2

kenai_kid
222
Points
kenai_kid 03/16/12 - 03:55 pm
0
0
whichwitch get your head in the blog

I did not say Alaska and the oil industry represented a socialist agreement. However, would you agree, that a state run oil company with state run refiners and state run gas stations would be maybe a tinge of socialism? Everyone gets a job that pays well and everyone gets cheap, state subsidized gasoline.

Norseman
3593
Points
Norseman 03/16/12 - 09:16 pm
0
1
BP's quote...."going out of

BP's quote...."going out of business policy."

Kenai kid, perhaps you can explain to all of us Alaskans if that is the case, then why did the outgoing CEO of Exxon Mobil receive a $400,000,000 exit bonus just this past year?

FOUR HUNDRED MILLION EXIT BONUS!!!!!!!!!

You would have to be brain dead to not see what is going on here.

If Oil companies were facing foreclosures and massive cuts, then this would be a different debate.
The REALITY is the CEO's receive hundreds of millions of dollars and all of the largest oil companies are the RICHEST corporations in the world making record profits each year. Why on earth would Alaskans buy into their stance that they are going out of business due to Alaskas tax base. Pure BS.

We own this oil and deserve to make sure that we, our children, and grandchildren receive an appropriate amount of profit from it. You just add up the annual salaries, stock options, and golden parachutes that the CEO's of BP, Exxon, Shell make each year and then jusitfy to me why we should give them handouts.

The only handout they should be getting is getting their hands out of Alaskas pockets........

kenai_kid
222
Points
kenai_kid 03/17/12 - 01:21 am
1
0
William McGuire, UnitedHealth

William McGuire, UnitedHealth Group

McGuire walked away with $1.2 billion after leaving his CEO position. However in the end he was forced to forfeit more than $400 million worth of stock options and retirement benefits. This forfeit was a deal to settle both civil and SEC lawsuits in relation to UnitedHealth's options packages; as a condition of his settlement with the SEC, McGuire cannot serve as a director of a public company for a decade.

Lee Raymond, Exxon Mobile

Raymond was Exxon's CEO for several years until his company merged with Mobil Oil. Unlike the others, Raymond simply retired from his post. He had been a long time employee, since 1963, and worked his way up the corporate ladder until researching top position. During his time, stock price change was: +63%. His severance package was $392.5 million.

Robert Nardelli, Home Depot

Serving seven years as the company's head, Nardelli left his position after he was criticized about his leadership. Complaints ranged from his pay package to underperformance of corporate governance; the latter of which is heavily emphasized nowadays. Not to mention stock value decreased 48% during his tenure. Despite this, Home Depot let Nardelli walk away with $212 million, not bad in terms of separation pay.

Henry McKinnell, Pfizer

Pfizer CEO McKinnell saw struggling times during his leadership timeframe, not to mention the stock price change under McKinnell was -36%. The board of directors had issues with McKinnell's management style and inability to bring new drugs to the consumer market. Yet despite these concerns, the former CEO still walked away with a $195.8 million severance.

• Michael Ovitz, Walt Disney

Ovitz's leadership of Disney was short lived, having only served 14 months prior to leaving the company. During his brief time at the helm, Disney's stock took a dip, yet he still walked away with $81.6 million severance. Investors of the massive entertainment company were not pleased with this and even sued, however Disney won and Ovitz got his severance.

The point here is NOT that this is fair! I absolutely agree with you that CEO pay is way out of line. The rich have gotten 300% richer in the past 40 years and the middle class has made gaines of 6% when adjusted for inflation. Unfortunately the poorer have not faired as well as they haven't gained at all, but have actually lost. However, Mr Raymond did something none of the other CEO's mentioned accomplished ... return on investment for the share holders and profitability over a 49 year career.
Not to mention Walmart CEO Michael Duke makes more in one hour ($16,800 +) than the mean wage earner for the corporation he heads makes in a year ($13,650 +/-).

Concerning the slope and the oil companies. Your interpretation of "going out of business policy" is taken somewhat out of context. Big oil is not implying that the taxes will break their companies, but they are implying the cost to return ratio is diminishing and at a point soon, it will be even. Again, I ask you what is the tax per barrel of oil and what is the companies share? Not simply Alaska's share, but the Fed's share as well.

Again, I am not defending the oil companies, but I am trying to interject objectivity, reason and facts.

leewaytooo
2015
Points
leewaytooo 03/17/12 - 04:48 am
0
0
lower and stabilize the cost

lower and stabilize the cost of energy for all and the
economic benefits for all will increase.

although, right now the saudi's are increasing their
exporting of oil to the us and to china in an effort to
shore up their supplies? why??

our consumption has decreased, our production has increased. so why the extra oil?

could it be that stocking up is a prelude to problems
with iran?

kenai_kid
222
Points
kenai_kid 03/17/12 - 07:12 am
0
0
prelude to Iran

Lee, your hypothesis is a definite reality and I dare say, a growing certainty. However, the US has a absolute storage capacity of just under 1 billion barrels or nearly a three month supply.

Jerry
0
Points
Jerry 03/18/12 - 09:22 am
0
1
Oh Look, the Prez. says we

Oh Look, the Prez. says we need to do away with Tax relief to Big Oil & Big Oil said a few days ago they Big Oil said they need more tax relief or it was a Going Out Of Business situation. Sounds like OUR Prez. wqants Big Oil to go out of business.
Whats up with these timed comments from the Comptrollers a few days apart, and isn't it funny that this came at such a time as this when the worlds oil supply is in jeopardy??

Oh Look Iran again today says it's gonna shut down the Straite of Hormuz in the Persian Gulf, what ya think these nutjobs lead by their Prez. Imadamnutjob & Religious Quran observant Mullahs are kidding??

All the while America, Britian, France, & others stand at the ready on both sides of the Straite with many war ships & mine sweepers & combat troops numbering over 20,000 all ready for such an action from Iran, all of which MAY start WWIII any day now.

There will be no alternative fuel sources developed in a time frame that would help people survive the coming planned fuel shortage ment to bring the world to it's knees & submit to a OWO.
Can ya say SANCTIONS against everyone that refuses to accept this New World Order from Nations to individuals, it's coming.

Buy rice & beans while ya can, Oh, and talking to Jesus is also a GR8 idea as he is OUR Only Hope.

soldotna
50
Points
soldotna 03/18/12 - 02:16 pm
2
0
It's really easy

Alaska needs to look at the top 3 places that produce oil and then look at their tax structure systems. Then get inline with those tax structures if we don't do this this then Alaska will be out of the oil business and once we are out of that business it is going to be very hard to get back into it. Yes we will always have the oil but you have to realize these companies spend tons of money getting equipment to these places and if they start taking the equipment out and putting it in other states/countries the likely hood of them moving it back is almost ZERO.

If Alaska's tax structures are within the top 3 then we need to start taking back our oil leases and getting companies in Alaska that want to work with Alaska and hire Alaskan's.

SIDE NOTE
Although until we rewrite our state constitution we can not force companies to hire Alaskan's however we can give companies more tax breaks for doing so and that should be explored also IMO.

Norseman
3593
Points
Norseman 03/20/12 - 04:07 pm
0
1
Remember when teachers,

Remember when teachers, public employees, Planned Parenthood, NPR, and PBS crashed the stock market, wiped out half of our 401k's, took trillions in taxpayer funded bailouts, spilled oil in the gulf of Mexico, gave themselves BILLIONS in bonuses, and paid NO TAXES?
.........
Yea, me neither.........

Jerry
0
Points
Jerry 03/22/12 - 11:40 am
0
0
Did people loose money in

Did people loose money in the stock market when it crashed the First time? This squirrely nut case didn't, as i could see the writings on the wall and pulled out every cent from my 401k retirement account, it of course did make my stock guy mad, but when the crash came i lost nada. I did try to warn people of it's impending coming & advised them Free of charge to prepare. But they said "We will not listen." (Jeremiah 6:17 sorry for the verse here)

Since that crash i helped my mother in law get her stuff out & she hasn't lost one minute of sleep worring about the next crash.
Another PLANNED crash to get the other half of those 401k's, and still people will not listen to warning that are screaming every day that said crash is at an any moment time frame.
What can be done about these that refuse to listen & prepare, especially when a blind deaf person can see & hear the warnings?

I have a GR8 retirement plan now, its my 801k plan, 8 is the number for eternity & it's back by AIG, thats Almighty, Eternal, God.
It's a GR8 plan & the dividends are out of this world, and compounded daily depending on ones investment into the plan, but you have to join & it's free for everyone, with the membership fee already paid for in full by Joshua, Yeshua.

OH! Back on subject, again i will say this, its' all a control thing & it's not gonna get better and is not ment to do so by money hungry power contol people like Big Oil or Governments that have a Dream for a OWO, and if ya can't read the writing on the wall this time and prepare, well then you deserve to lose everything and it's your Free choice to do so.
A World wide crash is coming just like has happened to Greece & is happening to other nations as i type, all until the entire wqorld is under the MONEYopely OWO controlers.

Have a GR8 Day!!

Raould
0
Points
Raould 03/23/12 - 04:13 am
0
0
tax change

Instead of having to deal with foreign oil companies raping this state for it's natural resources.Let us have a referendum to have ALL the recipients of the permanent fund.Let them vote for taking the monies and become an equal shareholder in their own Alaska Citizen's oil company.The way things are going many folks would make a larger dividend than they are now.The same stipulations would apply to qualify for the dividend.The billions of dollars in the reserve would be a very good start.I am not talking socialism.I am talking a shared ownership of a public(Alaska citizen) company.Plus the state would be saving billions.There would be no tax break for any foreign oil company.Do the math.What do you think?

kenai_kid
222
Points
kenai_kid 03/23/12 - 05:06 am
0
0
State run oil company

a state run oil company would work against free trade capitalism.alaska ran a business as simple as producing milk. The daily flights to and from the slope would break them in years. Rauld, do you have clue what it would cost to take over the field?

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