ACES is better for Alaskans

This vote is about trust.

 

Who do you trust? Governor Parnell? Legislative leaders employed by ConocoPhillips? The leaders of the oil industry, bankers, chambers of commerce and other special interest groups all trying to buy your vote?


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I, on the other hand, have no vested interest in ACES or SB21, except for three years of effort in evaluating oil taxes. I have no reason to mislead anyone. Careful study reaches one conclusion—ACES is better for all Alaskans.

The North Slope oil fields are mature and declining and will continue to decline in the future—and yes, even under SB21. This fact is supported by the Alaska Department of Revenue: Revenue Sources Book, fall 2013. SB21 will lose billions for Alaska at high oil prices and even at current oil prices with escalating expenses. Additionally, North Slope oil leases need to be enforced or they should be cancelled.

Governor Parnell has a history of consistently supporting Big Oil. His latest support came via an attempted reduction of TAPS tax valuation to $5.7 billion—off by $4.6 billion. How does that help Alaska?

Legislative leaders (several are employed by Big Oil as pseudo-lobbyists) gave their employers a multi-billion dollar tax break. The legislature’s ethics rules permit corruption. However, two Republican senators, Bert Stedman of Sitka and Gary Stevens of Kodiak, understand ACES and SB21, and they intend to vote to repeal SB21.

Big Oil leaders (BP, ConocoPhillips, Exxon)--were caught cheating the state on numerous occasions. Severe penalties should be enforced when the oil industry intentionally overcharges Alaska for expenses—as they have in the past. And, they’ve just spent $13 million to buy your vote for a multi-billion dollar tax break!

The oil industry has not been trustworthy in the past and neither has the legislature. Why should you trust them now?

Vote YES and repeal SB21.

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