CS SB145 - Oil and Gas Tax Credits
March 28, 2012
Co-Chairs Paskvan and Wagoner
Senate Resources Committee
Alaska State Legislature
State Capitol Building
Juneau, AK 99801
Re: Senate Resources Hearing on CS SB 145 – Oil and Gas Tax Credits
Dear Co-Chairs Paskvan and Wagoner, and Members of Senate Resources:
The Resource Development Council (RDC) writes to express support for CS SB 145, oil and gas tax credits in areas south of 68 degrees North latitude, including the Nenana and Selawik basins.
RDC is a statewide business association comprised of individuals and companies from Alaska’s oil and gas, mining, forest products, tourism and fisheries industries. RDC’s membership includes Alaska Native Corporations, local communities, organized labor, and industry support firms. RDC’s purpose is to encourage a strong, diversified private sector in Alaska and expand the state’s economic base through the responsible development of our natural resources.
RDC supports the much needed development of oil and gas resources in Interior and western Alaska, regions that rely heavily on high priced heating fuel. Much of the area under consideration is near existing infrastructure, and Fairbanks, which could be a practical market for the oil and gas.
Not only is it a top priority for RDC to advocate for tax policy and incentives that enhance the State of Alaska’s competitiveness for all industries, but also to support measures to reverse the Alaska oil and gas production decline. This includes legislation that results in new exploration and development.
Additionally, oil and gas exploration and production in Interior and rural Alaska would provide other benefits, such as new, well-paying jobs, and increased tax and royalty income to the state.
Thank you for the opportunity to comment.
Resource Development Council for Alaska