Post by Logan on Mar 22, 2016 18:53:15 GMT -6
A committee of the Alaska House of Representatives has diluted a plan by Gov. Bill Walker to cut the state’s subsidy for oil and gas drilling.
As a result, the state is poised for the first time to pay oil companies more in subsidies than it receives in oil taxes and royalties.
“2017 will be the first year that Alaska doesn’t earn positive income out of oil and gas development; that’s a significant step,” said Gov. Bill Walker.
The Alaska House Resources Committee introduced a substitute for House Bill 247 on Saturday and continued its discussion on the proposal Monday.
Read more: juneauempire.com/state/2016-03-21/house-committee-keeps-most-oil-company-subsidies-intact
As a result, the state is poised for the first time to pay oil companies more in subsidies than it receives in oil taxes and royalties.
“2017 will be the first year that Alaska doesn’t earn positive income out of oil and gas development; that’s a significant step,” said Gov. Bill Walker.
The Alaska House Resources Committee introduced a substitute for House Bill 247 on Saturday and continued its discussion on the proposal Monday.
Read more: juneauempire.com/state/2016-03-21/house-committee-keeps-most-oil-company-subsidies-intact