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Oil tax bill expected next week

Anchorage Daily News online -- Associated Press

Published: January 31st, 2012 01:11 PM
Last Modified: January 31st, 2012 01:21 PM

JUNEAU -- An oil tax bill dealing with a progressive surcharge and incentives for new production is expected to be unveiled next week in the Senate.

Senate Resources Committee co-chair Tom Wagoner says he expects a bill before his committee by Feb. 10.

Under the current tax regime, a progressive surcharge is triggered when a company's net profits hit $30 a barrel. The industry has complained that this eats into profits when oil prices are high and discourages investment.

Wagoner's approach to incentives is "trust but verify." That is, incentives after new oil.

Critics of the governor's now-shelved oil tax-cut plan called it a giveaway with no guarantees Alaska would see additional

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Submitted Feb 05, 2012 By: Nitewolf

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REPLIES (newest first)

remay Champion Author Houston Posts:5,212 Points:1,758,145 Joined:May 2006	Message Posted: Feb 6, 2012 8:43:07 AM Ignore remay Report Abuse Another excuse to hike the price a the pump...
ArmydudeNC Champion Author North Carolina Posts:6,308 Points:1,015,275 Joined:Jul 2009	Message Posted: Feb 6, 2012 6:58:06 AM Ignore ArmydudeNC Report Abuse There isn't a need for another tax bill.
OHMS Champion Author Orange County Posts:11,267 Points:1,335,275 Joined:May 2005	Message Posted: Feb 6, 2012 6:18:15 AM Ignore OHMS Report Abuse trust but verify, eh? Under the current tax regime, a progressive surcharge is triggered when a company's net profits hit $30 a barrel. The industry has complained that this eats into profits when oil prices are high and discourages investment.
Vette1967 Champion Author Albany Posts:4,152 Points:915,380 Joined:Jun 2009	Message Posted: Feb 6, 2012 1:28:05 AM Ignore Vette1967 Report Abuse Taxing more isn't always a solution.
txkrb All-Star Author Texas Posts:855 Points:312,305 Joined:May 2011	Message Posted: Feb 6, 2012 1:15:11 AM Ignore txkrb Report Abuse Not a new tax read the article it is an incentive and apparently will remove a progressive surcharge on oil production "Under the current tax regime, a progressive surcharge is triggered when a company's net profits hit $30 a barrel" [Edited by: txkrb at 2/6/2012 1:16:25 AM EST]
Jeff4U Champion Author Atlanta Posts:6,551 Points:1,488,470 Joined:Nov 2004	Message Posted: Feb 6, 2012 12:45:19 AM Ignore Jeff4U Report Abuse More taxes? They'll just pass it on to consumers .. no problem.
1momsunshine Champion Author Ottawa Posts:3,631 Points:642,870 Joined:Mar 2010	Message Posted: Feb 6, 2012 12:07:36 AM Ignore 1momsunshine Report Abuse wow
Vetteblu Champion Author Denver Posts:1,637 Points:465,865 Joined:Oct 2010	Message Posted: Feb 5, 2012 11:10:00 PM Ignore Vetteblu Report Abuse More taxes, just what we need in this economy, we'll always pay for it in the end.
nurdco Champion Author Colorado Springs Posts:7,216 Points:1,330,310 Joined:Apr 2008	Message Posted: Feb 5, 2012 10:57:18 PM Ignore nurdco Report Abuse You TAX them We Pay at the pump...
jimgraham Champion Author Akron Posts:8,488 Points:1,616,630 Joined:Oct 2007	Message Posted: Feb 5, 2012 10:34:58 PM Ignore jimgraham Report Abuse ""The industry has complained that this eats into profits when oil prices are high and discourages investment."" Would they rather that the tax starts at the first dollar? I don't think so.
Wanda127 Champion Author Florida Posts:1,492 Points:569,900 Joined:May 2010	Message Posted: Feb 5, 2012 8:38:50 PM Ignore Wanda127 Report Abuse The oil companies make too much profit now. This is just Greed!
drpepperTX Champion Author Texas Posts:4,914 Points:391,320 Joined:Apr 2011	Message Posted: Feb 5, 2012 8:34:26 PM Ignore drpepperTX Report Abuse Wait a minute, I've been told that oil companies don't pay taxes! Something is amiss.
esq262 Champion Author Asheville Posts:1,176 Points:295,315 Joined:Jul 2011	Message Posted: Feb 5, 2012 8:04:36 PM Ignore esq262 Report Abuse Government is just wanting more.
buckets42 All-Star Author New Jersey Posts:998 Points:192,820 Joined:Oct 2011	Message Posted: Feb 5, 2012 7:59:50 PM Ignore buckets42 Report Abuse Any day now.
doggod Champion Author Anchorage Posts:1,062 Points:387,235 Joined:May 2009	Message Posted: Feb 5, 2012 7:59:45 PM Ignore doggod Report Abuse It'll be interesting to see what they come up with.
DerHahn Champion Author Illinois Posts:11,741 Points:1,756,635 Joined:May 2004	Message Posted: Feb 5, 2012 7:43:36 PM Ignore DerHahn Report Abuse "The industry has complained that this eats into profits when oil prices are high and discourages investment." i guess 10 billion a quarter just isn't enough to feed to greed. http://money.cnn.com/2011/10/27/news/companies/exxon_mobil/index.htm
Dphillips720 All-Star Author Michigan Posts:924 Points:287,100 Joined:Mar 2011	Message Posted: Feb 5, 2012 7:14:39 PM Ignore Dphillips720 Report Abuse GREAT SAME AS MICHIGANS 12 CENT WHOLESALE TAX!!!!
Buckeyee Champion Author Maine Posts:2,412 Points:555,605 Joined:May 2010	Message Posted: Feb 5, 2012 6:46:34 PM Ignore Buckeyee Report Abuse ok
PathfinderSC Champion Author South Carolina Posts:7,696 Points:1,468,965 Joined:Mar 2008	Message Posted: Feb 5, 2012 6:41:47 PM Ignore PathfinderSC Report Abuse We don't need people like Tom Wagoner .
dorisntx Champion Author Fort Worth Posts:1,252 Points:333,700 Joined:Apr 2011	Message Posted: Feb 5, 2012 6:21:32 PM Ignore dorisntx Report Abuse @#%^%@%&&%@$@%^%&^*$&(++)(&^....
Venzadriver Champion Author Florida Posts:1,023 Points:289,075 Joined:Dec 2010	Message Posted: Feb 5, 2012 5:40:13 PM Ignore Venzadriver Report Abuse Great, another excuse to raise prices. They won't stop until gas hits $10 a gallon.
kress999 Sophomore Author Alabama Posts:214 Points:247,470 Joined:May 2011	Message Posted: Feb 5, 2012 5:00:11 PM Ignore kress999 Report Abuse Great Idea go Senator Wagoner!!!
djwhit Champion Author Ohio Posts:1,316 Points:863,055 Joined:Jul 2009	Message Posted: Feb 5, 2012 4:35:28 PM Ignore djwhit Report Abuse FOR GET IT...............
cdrrod Champion Author Wisconsin Posts:2,377 Points:431,720 Joined:Feb 2006	Message Posted: Feb 5, 2012 3:44:36 PM Ignore cdrrod Report Abuse Next week is one week too late!
fedupMN Champion Author Twin Cities Posts:1,417 Points:279,885 Joined:Mar 2011	Message Posted: Feb 5, 2012 3:44:12 PM Ignore fedupMN Report Abuse ok
Lugi1967 Champion Author Ohio Posts:3,107 Points:646,870 Joined:Jun 2010	Message Posted: Feb 5, 2012 3:33:22 PM Ignore Lugi1967 Report Abuse To each state his own
humblepie Champion Author Toledo Posts:17,248 Points:2,007,270 Joined:Mar 2006	Message Posted: Feb 5, 2012 3:19:31 PM Ignore humblepie Report Abuse obamanomics overflow me thinks
Double_Golden All-Star Author San Francisco Posts:730 Points:241,755 Joined:Aug 2011	Message Posted: Feb 5, 2012 2:18:47 PM Ignore Double_Golden Report Abuse enough tax already, how much more do u want
ktbaeohana Champion Author Las Vegas Posts:1,164 Points:261,995 Joined:Mar 2010	Message Posted: Feb 5, 2012 2:10:47 PM Ignore ktbaeohana Report Abuse Not canada meant Alaska.
ktbaeohana Champion Author Las Vegas Posts:1,164 Points:261,995 Joined:Mar 2010	Message Posted: Feb 5, 2012 2:09:28 PM Ignore ktbaeohana Report Abuse Canada increase on oil tax not fun.
SavingInNC Champion Author North Carolina Posts:4,134 Points:741,030 Joined:Oct 2006	Message Posted: Feb 5, 2012 2:06:25 PM Ignore SavingInNC Report Abuse Greedy politicians cannot tax enough
bigmoo63 All-Star Author Kalamazoo Posts:881 Points:56,300 Joined:Nov 2009	Message Posted: Feb 5, 2012 1:56:09 PM Ignore bigmoo63 Report Abuse Gee more taxes. The only thing these pinheads in office understand. Tax and spend. Tax and spend. What a joke.
TripleHs Champion Author Austin Posts:1,827 Points:595,405 Joined:Oct 2009	Message Posted: Feb 5, 2012 1:50:05 PM Ignore TripleHs Report Abuse why not