TAX REFORM AT WORK: Repsol makes ‘significant’ discovery
Repsol E&P USA Inc. is touting “better-than-expected” results from its recent North Slope exploration campaign and has begun permitting a development program.
“We are very satisfied with the latest results from Alaska,” said Luis Cabra, Repsol’s executive vice president of exploration and production. “The positive news from this year’s exploration campaign, combined with the recent changes in the state’s tax structure, make Alaska a compelling area to continue to invest and generate the potential for development.”
More investment, more oil, more revenues
Alaskans made the right choice when they voted to KEEP Alaska Competitive by supporting SB 21 in last year’s election. SB 21 is working for Alaska, but in these difficult times of huge state budget deficits, it is important that the decisions we make do not have a negative effect on our long-term future. That’s the role of KEEP Alaska Competitive – to provide the information Alaskans need to keep us on the path to prosperity.
- Under SB 21, Alaska is taking in more revenue than it would have under the old tax system.
- Oil production decline is slowing.
- Tax credits are attracting new investment and new companies.