Wednesday, March 5, 2008

Prudhoe Bay - Highest Production Tax in the World

So says BP Exploration (Alaska) Inc President Doug Suttles in a presentation to Anchorage Chamber of Commerce.

Suttles went on to give low marks to Alaska Governor Sarah Palin's Alaska Gas Pipeline plans, saying "You would have thought that the world's big companies, whether they were pipeline companies or whether they were gas companies, would want to be part of it. But only one showed up. I think that tells you about the framework that we have in place today and the problems with that framework."

Maybe Suttles is thinking "Beyond Palin"

2 comments:

Larry said...

Greetings - Did you happen to read Bradner's Alaska Economic Report dated 02-25-2008? It states that Alaska has highest oil tax rate in world, and that at some projects it's as much as 81%.

I don't think that the report is available online, but Andrew Halcro has a copy posted on his website, at http://tinyurl.com/2jhprt

AK Engineer said...

Larry - Thanks for your comment. No I missed that report, I need to give it some study. I think the increased tax revenue from the last tax hike is almost equal to dollar value of projects that were cancelled or defered - I thought Republicans knew better!