In these challenging times, it’s critical to KEEP Alaska Competitive

Under current oil prices, the North Slope producers are losing more than $20 on each barrel they produce. Companies are cutting jobs and scaling back investments. Yet Alaska isn’t seeing the kinds of wholesale job and project cuts that are crushing other energy provinces The reason is SB 21, the tax reform that became law in 2014, which makes Alaska more competitive in the global marketplace.

SB 21 encourages explorers and producers to invest in the future by allowing them to recoup part of their losses and early project costs. And it’s working exactly as designed. The industry invested $5 billion of additional capital, which led to more oil – and more oil has stabilized the flow through the trans-Alaska pipeline.

With the industry swimming in an ocean of red ink, now is not the time to make it more expensive to produce a barrel of oil in Alaska.

Now is not the time to make wholesale changes to a system that is working so well for Alaska.

Now IS the time to KEEP Alaska competitive by maintaining a tax policy that’s stable and balanced.