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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:5,202 Points:1,756,195 Joined:May 2006	Message Posted: Feb 6, 2012 5:43:07 AM Ignore remay Report Abuse Another excuse to hike the price a the pump...
ArmydudeNC Champion Author North Carolina Posts:6,298 Points:1,013,325 Joined:Jul 2009	Message Posted: Feb 6, 2012 3:58:06 AM Ignore ArmydudeNC Report Abuse There isn't a need for another tax bill.
OHMS Champion Author Orange County Posts:11,254 Points:1,333,325 Joined:May 2005	Message Posted: Feb 6, 2012 3:18:15 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:4,147 Points:913,655 Joined:Jun 2009	Message Posted: Feb 5, 2012 10:28:05 PM Ignore Vette1967 Report Abuse Taxing more isn't always a solution.
txkrb All-Star Author Texas Posts:852 Points:310,495 Joined:May 2011	Message Posted: Feb 5, 2012 10:15:11 PM 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:6,541 Points:1,486,520 Joined:Nov 2004	Message Posted: Feb 5, 2012 9:45:19 PM Ignore Jeff4U Report Abuse More taxes? They'll just pass it on to consumers .. no problem.
1momsunshine Champion Author Ottawa Posts:3,621 Points:640,920 Joined:Mar 2010	Message Posted: Feb 5, 2012 9:07:36 PM Ignore 1momsunshine Report Abuse wow
Vetteblu Champion Author Denver Posts:1,637 Points:465,115 Joined:Oct 2010	Message Posted: Feb 5, 2012 8:10:00 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:7,206 Points:1,328,360 Joined:Apr 2008	Message Posted: Feb 5, 2012 7:57:18 PM Ignore nurdco Report Abuse You TAX them We Pay at the pump...
jimgraham Champion Author Akron Posts:8,478 Points:1,614,680 Joined:Oct 2007	Message Posted: Feb 5, 2012 7:34:58 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:1,491 Points:568,255 Joined:May 2010	Message Posted: Feb 5, 2012 5:38:50 PM Ignore Wanda127 Report Abuse The oil companies make too much profit now. This is just Greed!
drpepperTX Champion Author Texas Posts:4,876 Points:389,370 Joined:Apr 2011	Message Posted: Feb 5, 2012 5:34:26 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:1,170 Points:293,590 Joined:Jul 2011	Message Posted: Feb 5, 2012 5:04:36 PM Ignore esq262 Report Abuse Government is just wanting more.
buckets42 All-Star Author New Jersey Posts:988 Points:190,870 Joined:Oct 2011	Message Posted: Feb 5, 2012 4:59:50 PM Ignore buckets42 Report Abuse Any day now.
doggod Champion Author Anchorage Posts:1,052 Points:385,285 Joined:May 2009	Message Posted: Feb 5, 2012 4:59:45 PM Ignore doggod Report Abuse It'll be interesting to see what they come up with.
DerHahn Champion Author Illinois Posts:11,724 Points:1,754,585 Joined:May 2004	Message Posted: Feb 5, 2012 4:43:36 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:285,600 Joined:Mar 2011	Message Posted: Feb 5, 2012 4:14:39 PM Ignore Dphillips720 Report Abuse GREAT SAME AS MICHIGANS 12 CENT WHOLESALE TAX!!!!
Buckeyee Champion Author Maine Posts:2,402 Points:553,655 Joined:May 2010	Message Posted: Feb 5, 2012 3:46:34 PM Ignore Buckeyee Report Abuse ok
PathfinderSC Champion Author South Carolina Posts:7,686 Points:1,467,015 Joined:Mar 2008	Message Posted: Feb 5, 2012 3:41:47 PM Ignore PathfinderSC Report Abuse We don't need people like Tom Wagoner .
dorisntx Champion Author Fort Worth Posts:1,252 Points:332,200 Joined:Apr 2011	Message Posted: Feb 5, 2012 3:21:32 PM Ignore dorisntx Report Abuse @#%^%@%&&%@$@%^%&^*$&(++)(&^....
Venzadriver Champion Author Florida Posts:1,018 Points:288,100 Joined:Dec 2010	Message Posted: Feb 5, 2012 2:40:13 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:245,970 Joined:May 2011	Message Posted: Feb 5, 2012 2:00:11 PM Ignore kress999 Report Abuse Great Idea go Senator Wagoner!!!
djwhit Champion Author Ohio Posts:1,306 Points:861,105 Joined:Jul 2009	Message Posted: Feb 5, 2012 1:35:28 PM Ignore djwhit Report Abuse FOR GET IT...............
cdrrod Champion Author Wisconsin Posts:2,367 Points:429,770 Joined:Feb 2006	Message Posted: Feb 5, 2012 12:44:36 PM Ignore cdrrod Report Abuse Next week is one week too late!
fedupMN Champion Author Twin Cities Posts:1,412 Points:278,910 Joined:Mar 2011	Message Posted: Feb 5, 2012 12:44:12 PM Ignore fedupMN Report Abuse ok
Lugi1967 Champion Author Ohio Posts:3,102 Points:645,145 Joined:Jun 2010	Message Posted: Feb 5, 2012 12:33:22 PM Ignore Lugi1967 Report Abuse To each state his own
humblepie Champion Author Toledo Posts:17,189 Points:2,005,320 Joined:Mar 2006	Message Posted: Feb 5, 2012 12:19:31 PM Ignore humblepie Report Abuse obamanomics overflow me thinks
Double_Golden All-Star Author San Francisco Posts:720 Points:239,805 Joined:Aug 2011	Message Posted: Feb 5, 2012 11:18:47 AM Ignore Double_Golden Report Abuse enough tax already, how much more do u want
ktbaeohana Champion Author Las Vegas Posts:1,158 Points:261,020 Joined:Mar 2010	Message Posted: Feb 5, 2012 11:10:47 AM Ignore ktbaeohana Report Abuse Not canada meant Alaska.
ktbaeohana Champion Author Las Vegas Posts:1,158 Points:261,020 Joined:Mar 2010	Message Posted: Feb 5, 2012 11:09:28 AM Ignore ktbaeohana Report Abuse Canada increase on oil tax not fun.
SavingInNC Champion Author North Carolina Posts:4,124 Points:739,080 Joined:Oct 2006	Message Posted: Feb 5, 2012 11:06:25 AM Ignore SavingInNC Report Abuse Greedy politicians cannot tax enough
bigmoo63 All-Star Author Kalamazoo Posts:879 Points:56,160 Joined:Nov 2009	Message Posted: Feb 5, 2012 10:56:09 AM 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:1,816 Points:593,455 Joined:Oct 2009	Message Posted: Feb 5, 2012 10:50:05 AM Ignore TripleHs Report Abuse why not