Sheffield Urges Defeat of Oil Tax Repeal Measure

Former Gov. Bill Sheffield says repealing changes to Alaska's oil tax structure would be a mistake.


by Associated Press

SITKA- Former Gov. Bill Sheffield says repealing changes to Alaska's oil tax structure would be a mistake.

Sheffield spoke Sunday at the Sitka Historical Society.

In brief remarks, the 84-year-old former governor says he favors retention of the tax measure that will be up for repeal by initiative next year.

The law gives major tax breaks to oil producers with the goal of increasing production.

Sheffield says the law is not perfect but can be made better.

He says oil revenue curtailment of oil production will have harmful effects on the Alaska economy.

Sheffield was elected governor as a Democrat in 1982. He served one term.

He says he's promoting construction of a 36-inch natural gas pipeline from the North Slope to southcentral Alaska.

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Earl Richards said on Thursday, Oct 17 at 12:16 PM

Sheffield is wrong, the tax breaks given to the oil producers will not increase oil production, because the Big Three will not spend the tax giveaways in Alaska. This notion is an insult to the intelligence of the Alaskan people. The curtailment of the progressive surcharge will give $2 billion per year to ExxonMobil, ConocoPhillips and BP for nothing in return. This $2 billion per year loss will have disastrous effects on Alaska"s economy, on the state budget and on the state revenues. The Big Three and Parnell are out to plunder the $16 billion budget reserve. To increase oil production, they have to find oil markets in China and other far eastern countries for Alaskan oil exports.

mwelk said on Thursday, Oct 17 at 5:57 PM

This, from an ex-governor who was facing impeachment over suspicious business dealings in the 80s about giving a business contract to a cronie? Some things never change. Parnell is following closely in Bill's footsteps.

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