Anchorage – Earlier today, the preliminary results of three oil and gas lease sales were released by the Alaska Division of Oil and Gas. $17.8 million in winning bids were received during the annual North Slope, North Slope Foothills, and Beaufort Sea areawide lease sales.
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On Monday, the Conference Committee passed a new version of HB 247, an oil and gas subsidy reform bill that impacts how much progress we can make in trying to close Alaska’s deficit gap. I was a member of the Conference Committee and was the lone no vote on this bad version of HB 247.
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On Monday, the Conference Committee on HB 247, the Oil & Gas Tax Credit Reform bill, was advanced and passed by both the House and the Senate. As introduced by the Governor, the bill was originally an aggressive reform to scale back costly subsidies by $500 million. The bill was dramatically changed through the Republican-controlled committee process to strip away nearly all savings and continue the unsustainable oil industry subsidies.
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A lot of good and bad things have happened since I wrote last. Here’s the good, bad, and, well, sorta’ secret stuff people should know about. And, on a revenue plan especially, I’d like to hear from you!
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Juneau – Today, the Conference Committee created to work out the differences between the House and Senate versions of House Bill 247 advanced a new version that continues unsustainable subsidies to the oil and gas industry that will cost Alaska hundreds of millions of dollars a year. The only member of the Minority on the Conference Committee is Representative Geran Tarr (D-Anchorage). She objected to the new version of HB 247 and voted no on advancing the bill out of the committee.
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