Absent from Alaska’s budget debate are comparisons of owner\/producer profit-sharing agreements in other oil producing countries. How do we compare? The big three want this question off the table. Our news outlets suffer a painful withholding of advertising revenue any time they address this issue.<\/p>\n
According to ConocoPhillips’ unaudited report, they were netting over $17 per barrel from last quarter’s Alaska production. The way things work on the North Slope, if Conoco was making $17, so was British Petroleum and ExxonMobil. I have studied international oil tax policies for over 30 years. I highly doubt that BP, Conoco, or Exxon can point to another country that lets them keep more than $5 per barrel in today’s market. It is a fact that BP, Conoco and Exxon produce oil in exchange for cost plus $1 profit per barrel in several countries.<\/p>\n
Last quarter Alaska produced about 46 million barrels. Had we kept $12 of the $17 and let them keep $5, they would have cried all the way to the bank and continued producing. Alaska would have received an additional $550 million for the quarter. Four quarters of the same would add up to $2.2 billion. Passing an income tax will take the pressure off of our oil-company-owned Legislature to get your rightful share of profits from our state-owned oil.<\/p>\n
Ray Metcalfe,<\/strong><\/p>\n Anchorage<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Absent from Alaska’s budget debate are comparisons of owner\/producer profit-sharing agreements in other oil producing countries. How do we compare? The big three want this question off the table. Our news<\/a> outlets suffer a painful withholding of advertising revenue any time they address this issue. According to ConocoPhillips’ unaudited report, they were netting over $17 […]<\/p>\n","protected":false},"author":107,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_stopmodifiedupdate":false,"_modified_date":"","wds_primary_category":14,"footnotes":""},"categories":[14],"tags":[],"yst_prominent_words":[],"class_list":["post-21792","post","type-post","status-publish","format-standard","hentry","category-letters"],"_links":{"self":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts\/21792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/users\/107"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/comments?post=21792"}],"version-history":[{"count":0,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts\/21792\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/media?parent=21792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/categories?post=21792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/tags?post=21792"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/yst_prominent_words?post=21792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}