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The Four Guiding Principles

  • 1 An oil tax system that is FAIR TO ALASKANS
  • 2 An oil tax system that encourages NEW PRODUCTION
  • 3 An oil tax system that is SIMPLE and focused on RESTORING BALANCE
  • 4 A COMPETITIVE oil tax system that is DURABLE

Creating Opportunity For Alaskans

Alaska's competitive rankingAlaska oil production is less than 560,000 barrels of oil per day and continuing to decline at roughly six percent each year. The goal is simple: Fill the Pipeline and create economic opportunities for Alaskans and future generations.

To do this, Governor Parnell introduced legislation that:

  • Is fair to Alaskans by eliminating the progressivity tax and replacing it with a simple, flat production tax. It will better protect Alaskans at low oil prices with more state revenues, in exchange for lower revenues at high oil prices.
  • Targets new production by focusing tax incentives on actual production, not simply company spending in oil fields. It eliminates the current 20 percent Qualified Capital Expenditure Credit, and establishes a Gross Revenue Exclusion to provide a tax
    break for new production.
  • Is simple and restores balance to the system by replacing the complex progressivity structure with a simple flat tax. It will restore balance by not putting Alaskans' treasury at risk for oil tax payments at lower oil prices.
  • Makes Alaska competitive and is durable. It focuses tax benefits on new production over the long-term and will attract new entrants into Alaska’s oil fields by extending the Small Producer Tax Credit through 2022.

With this legislation, we have a real opportunity to create a future for all Alaskans through new oil production.

 

 

 

Weekly Messages

Read the transcripts

More About the Decline

Background Information

News Coverage

ConocoPhillips Adding New Drill Rig To Kuparak Oil Field
Pioneer sells Alaska holdings for $550M
Repsol plans: three more wells, three more rigs
BP Alaska president: Oil tax bill makes several projects possible
New BP president outlines aggressive investment plans
Parnell Looks To Europe For Insight On Oil Tax Policy
BP to spend $1 billion in Alaskaís North Slope
Compass: Alaska's oil comeback is under way
Parnell Signs Bills on Oil Tax, Budgets
Industry reps: Tax overhaul an improvement
Oil execs say tax bill is 'game changer,' make no promises
House Resources Committee advances oil tax bill
Interview: Gov. Parnell Talks Oil Tax Overhaul
Oil revenue fuels intense fighting among Alaska lawmakers
Alaska House getís its turn on oil tax bill
House Resources panel ready to take up oil taxes
Oil tax reform: Opportunity for Alaskans
Alaska Senate poised to begin debate on oil taxes
Point-Counterpoint: Ignoring production decline threatens Alaska's future
In relation to oil
New oil tax bill emerges in Senate with smaller break for new production
Consultant says oil tax proposal 'competitive'
Senate panel hears from industry on oil bill
Oil tax rewrite comparable impact to Parnell's
Alaska legislative panel unveils oil tax rewrite
Compass: Alaska needs governor's oil tax overhaul
Smaller companies testify on Parnell's oil tax plan
Fixing ACES
Legislature marks 30 days with narrow agenda on oil taxes
Alaska Has Its Own Fiscal Cliff
Parnell calls for action on gas, oil concepts
Senate Committee Advances Gov. Parnell’s Bill Cutting Oil Taxes
My Turn: Education and oil tax reform: a false choice
Alaska Senate committee to take up oil tax bill
Parnell: Focus on progressivity 'takes things out of context'
Committees start work on Parnell’s oil tax reform bill
Discussion Continues over Governor Parnell's Oil Tax Reform
Empire Editorial: Reform must work for all sides or it won't work at all
Econ One: Parnell’s bill would put Alaska back in running, benefit new players
AJOC EDITORIAL: Session gets off to fast start
Public Comments On Gov. Parnellís Oil Tax Cut Proposal
Parnell talks oil, other issues
Governor defends his new oil tax measure from Democratic critics
Alaska Gov. Parnell issuing weekly messages on oil
Parnell pushes gas pipeline, oil tax cuts in his fourth State of the State address
Parnell pitches oil tax bill
My Turn: Tax reform must focus on increasing Alaska's economy
Compass: Governor lays out principles of oil tax reform

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Fill the Pipeline leave behind cardFill the Pipeline guiding principles flashcardFill the Pipeline Testimony - What others are saying