Efforts Underway In Alaska To Dismantle Sarah Palin’s Successful Oil Tax Program, (ACES)

There’s currently an effort underway to give billions of dollars back to the oil companies in Alaska, undermining the tax system passed under Governor Palin’s administration known as ACES (Alaska’s Clear and Equitable Share).
Whitney Pitcher at Big Government took on the NYTs for it’s misrepresentations of Sara Palin’s ACES program:

An article in the New York Times today discusses both the call by some in Alaska to dismantle two of Governor Palin’s energy related legislative victories and the claim by others that they are responsible for Governor Palin’s great fiscal record and Alaska’s strong fiscal health.

Current Alaska Governor Sean Parnell is seeking to make changes to Governor Palin’s oil tax structure–”Alaska’s Clear and Equitable Share” (ACES) legislation. This legislation replaced Governor Murkowski’s corruption-tainted oil tax plan. Governor Palin’s plan primarily taxed oil company’s net profits on production, and its flexibility based upon oil prices and its tax credits  encouraged greater capital development and investment than Murkowski’s tax structure. Moreover, Governor Palin signed ACES into law in order to make the oil tax structure more in line with the state constitution which stated that natural resources (i.e. oil) belong to the people and need to be developed for the maximum benefit of Alaskans.

While Governor Parnell has stood with Governor Palin on AGIA (the natural gas pipeline), in rejecting federal earmarks, and in opposing Obamacare, he is among those who have called for reforming Governor Palin’s ACES legislation:

Gov. Sean Parnell, Ms. Palin’s fellow Republican and former lieutenant, has announced that it is his top priority to undo parts of major oil tax increases that Ms. Palin made law. He argues that high state taxes, not just federal regulations, are preventing oil companies from exploring new drilling in Alaska and therefore jeopardizing future state revenues.

“Lower taxes means more competitive,” Mr. Parnell said last week. “It means more jobs.”

The reality doesn’t match up to the Governor Parnell’s claims. The number of oil companies filing with the Alaska Department of Revenue has doubled indicating that competition has indeed increased. Alaska has the second most business friendly tax set-up — up two spots since the passage of ACES. Additionally, a report from Governor Parnell’s Department of Revenue indicated that 2009 yielded a record high in oil jobs. Even more recently, the newest employment numbers from Alaska show that oil job numbers were higher in January 2011 than in January 2010, indicating that jobs are growing at the seasonal level. Parnell argues that state revenues are in jeopardy, but it is estimated that his proposal would reduce revenues by $100-200 million. Governor Parnell is right on other issues, but the numbers tell a different story than he asserts when it comes to ACES.

Read the rest at Big Government.
KWHL Radio talkers, Bob and Mark out of Anchorage AK lampooned the Oil and Gas Tax Proposals on their morning show:

Here’s a link to the pdf of the Tax Foundation’s Alaska ranking. Alaska  is currently rated #2 in the state business tax climate index:

See also:

Barbaric Thoughts: The Threat to Alaska’s Oil Tax System, ACES

RELATED:

Sarah Palin is in New Delhi, today – she was invited to give a speech on her vision for America.

Here, via Gateway Pundit are her comments on energy:

“We all face energy challenges in the international arena.”
ENERGY is the key. My vision for a free and prosperous America involves an emphasis on energy.

On green energy– I am in favor of an “all of the above approach” to energy.
Unfortunately, though some have stymied responsible drilling. It means we continue to transfer hundreds of millions of American dollars to foreign regimes. Everything is touched.

As government locks up land – they try to tell us that green jobs are our future.
“A recent British study found that for every green job, 4 jobs were lost.”
This is social engineering.

Americans can tap into our own natural resources. And natural gas- green and efficient. Natural gas is an ideal “bridge fuel” to the future. It’s a false fairy tale for government to interfere and for Americans to believe that we don’t need oil and gas.

Linked by Doug Ross, Larwyn’s Links, thanks!

Hat tip: Charles B.

5 thoughts on “Efforts Underway In Alaska To Dismantle Sarah Palin’s Successful Oil Tax Program, (ACES)

  1. Pingback: Dismantling the NYTS Misrepresentations of Governor Palins Record « News You May Have Missed

  2. Pingback: Dismantling the NYTS Misrepresentations of Governor Palins Record » Not Good News

  3. Perhaps if Gov Palin had rejected free-market capitalism envigorating the energy industry and instead incorportated what ten lower NE States incorporated into their budgets-fraudulent RGGI tax scam- then she’d be popular like the NJ governor.

    I suppose many Americans are socially engineered to worship bamboozlers that they no longer recognize themselves as the bamboozled.

    Speaking of bamboozlers and the bamboozled, is not service to social justice the righteous way for those who believe in the tyranny of man?

    Like

  4. Pingback: Daily Dive-20 March 11 | adeliemanchot

  5. -Susan ,

    I can’t respond to your first comment because it made no sense.

    Speaking of bamboozlers and the bamboozled, is not service to social justice the righteous way for those who believe in the tyranny of man?

    This also makes no sense – probably because you’re confusing liberation theology with religion.

    Like

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