Researching the past oil tax system

FAIRBANKS- Alaska voters will decide whether to repeal SB21 also known as the More Alaska Production Act.

It was signed into law in 2013, and went into effect January first of this year.

A "yes" vote on the August 19th ballot would reject the law, and the state would return to the former oil and gas production tax structure known as ACES.

Oil researcher Richard Fineberg believes the facts show that ACES benefited the oil companies.

Based on data filed with the Securities Exchange Commission, Fineberg says ConcoPhillips’ global profits collapsed in 2008 during the economic downturn; but here in Alaska, they were earning billions of dollars.

Fineberg asserts that BP, Exxon, and ConocoPhillips have a history of fighting compromises, and SB21 follows that pattern.

For more information on Fineberg's research, follow the link below: