18 April 2013

ConocoPhillips to Increase Alaska Production

From KTUU Channel 2 in Anchorage:

ConocoPhillips says it's ready to increase its investments on Alaska's North Slope.

The oil giant on Wednesday announced it's taking the move after the state Legislature last weekend passed a new oil tax bill that reduced taxes on the industry in an effort to boost the flow of oil through the trans-Alaska pipeline.

This is good news for Alaska, especially after the gloom-and-doom-sayers who predicted that the lowered tax rates would spell disaster for the State.

There's a bit more at the link.


joated said...

So let me get this straight: The state reduces taxes on the oil industry and in return the oil industry decides to expand. And the added production will probably lead to an increase in taxes collected.

Gee, ya think that might work with other industries throughout the country? Nah. That's just silly. We better continue to INCREASE taxes on industry and individuals alike.

Rev. Paul said...

You're absolutely right, joated: it's the liberal/Progressive way!