SB 21 and tax credits were top of mind during a panel discussion at Thursday’s session of the 36th Annual Alaska Resource Conference.
Here are some quotes from Greg Lalicker, president, Hilcorp:
- “The sooner the tax credit debate is done, the sooner we can determine our plans.”
- “We came to Alaska because of the fiscal system. That’s what’s driven us to invest here.”
From Casey Sullivan, director, State Public Affairs, Caelus Energy Alaska, LLC:
- “SB21 has allowed for new exploration. It has been a busy year for little Caelus Energy.”
- “Last year was our busiest in seven years, so let me ask you, is SB21 working? Yes.”
- “Tulimanq (Smith Bay Field) is a possible one billion barrel field. It is only being explored now because of the current credits.”
- “Credits are an investment for today and for Alaska’s future. It is apparent they are necessary for new exploration and new production in Alaska.”
- “Every time there is a cough in Alaska about changing the oil tax structure, that cold goes all the way to Manhattan.”
From Benjamin Johnson, president, Blue Crest Energy, Inc.:
- “We need, as Alaskans, to view this as a solid investment in our future. It is not a give-away. We need new development.”
- “If we lost or severely reduced the tax credits, we would lose our only operating drill rig in Cook Inlet.”