Commonwealth North released their oil tax study report, "Alaska's Oil Investment Tax Structure: Establishing a Competitive Alaska." The Board of Directors and members of Commonwealth North engaged in a four month study to evaluate the primary public policy concerns associated with Alaska's oil tax structure. The study group was headed by Northrim Bank President Joe Beedle and Municipality of Anchorage Office of Management and Budget Director Cheryl Frasca. Study group members heard from oil tax payers, legislators, economists, and informed Alaskans. The data was analyzed, compared, discussed, and the final report produced. The study group determined that the current oil production tax, ACES, adversely affects investment in oil production on the North Slope.
The Commonwealth North Board of Directors approved a resolution supported by the findings of the oil tax study report, urging the legislature to reduce the ACES progressivity rate. Many of the presentations from individuals who met with the study group are available on the study group page.
This study should be read by all Alaskans. It's time we all get informed and this is a pretty unbiased study.
Posted by: Jay Blury | Tuesday, April 05, 2011 at 11:08 AM