If you haven’t been oversaturated with the discussions on development of Alaska’s oil resources and the taxing of that resource, then you have a splendid opportunity to learn more from both sides of the argument. Is Alaska’s tax structure on oil too progressive and thus limiting production from old wells? Does the ACES tax structure encourage mostly development from newly discovered wells? There are many questions and it is very difficult to determine where the truth lies.
If the ACES tax is modified, as suggested in HB 110, will the petroleum companies be encouraged to produce and develop more of Alaska’s oil resources? Or will they just take the money and run? One almost needs a ouija board to decipher the discussion. By the way, the State gets 90% of its operating budget funding from oil revenue. What would Alaska do if this revenue stream disappeared? Every person in the state, man, woman and child, would have to ante up more than $14,000 annually to pay for the state’s current spending levels.
The Anchorage Tea Party is hosting “The Future of ACES” on Thursday, January 12 at 6:30pm. The event will be held at 3801 Centerpoint Drive, 1st floor. Talk show host Glen Biegel will moderate the panel which will consist of Senator Bill Wielechowski, Senator Cathy Giessel and Rebecca Logan (AK Industry Support Alliance). So, both sides of the issue will be heard. Following the discussion, there will be a Q&A and an ACES straw poll.
So, bring your ouija boards and help untie this Gordian Knot!