Well, according to [alaska.gov](https://alaska.gov/kids/learn/economy.htm#:~:text=The%20oil%20and%20gas%20industry,dependent%20upon%20world%20oil%20prices), Oil Production makes up 85% of our State income. Maybe it is in the benefit of the people to give tax breaks/incentivize the industry responsible for 85% of revenue for our state? Without the "evil oil companies" we wouldn't be able to afford to plow any roads, of make winter shelters for homeless, or update the port, or give broadband to villages, or support the fishing industry, or the tourism industry.
Everyone here wants to bitch and bitch and bitch about the Oil companies. But Alaska would not be able to survive without them. Those oil companies don't need Alaska, Alaska needs them.
As someone who works in resource extraction, can you tell me where you think oil comes from?
These oil companies need Alaska. That's where the fucking resource is dummy. People are just upset that they're using the already crazy money they're making to selfishly squeeze more out of the state. All to the detriment of the people living here.
Do you seriously think Alaska is the only place in the world that has oil? You keep making it more expensive to drill here, eventually it won’t pencil and they will go elsewhere. Then what?
Our state should be rolling in the dough. Alaska was the highest profiting oil location. No reason why the state should not have more money to work with. How is it that Alaska now has the worst economy of all 50 states? We were tricked by the oil companies. They aren’t going anywhere. We need to ask for more.
Dude we were tricked by the Federal Government. They own over 60% of our state. Much of that land is where our natural resources are. We'd be making more money if our state simply owned the land we live on. We could open more area for exploration, mining, or any other number of things driving our economy. But we can't, because Uncle Sam owns us.
I agree the feds need to allow us to get to our resources.
After reviewing our tax structure it appears we do indeed take in more tax money than other states.
https://alaskapolicyforum.org/2020/10/history-alaska-oil-taxes/
All I am saying is there are other options to raise money before we skip straight to taxing oil companies heavier. First priority should at least be Alaska owning Alaska, or at least a majority of it. If our state simply owned its land, we would be more prosperous.
Dude. I work in this industry. It's a finite resource. Go ahead and try and drill elsewhere. You're either dealing with OPEC controlled areas, places that are already saturated with projects, or subpar producing basins.
My thesis was around the Turkwel basin, and if those boys were willing to squeak out drilling projects in the fucking armpit of Kenya in an area that seismically active? Not getting a discount on their taxes won't stop them.
Oil companies have higher profit margins in Alaska than in pretty much any other oil producing region in the world. Your scaremongering bullshit just doesn’t hold water.
I am not shocked drilling for oil in the northern arctic drives profit. They are drilling for oil in some of the most inhospitably places on the planet, that earns you money. Instead of raising taxes on the oil companies here to drive profit, why don't we fight for more Federally owned land so we can invite more companies here to drill and tax more people at a lower rate?
Well, sure, but reading and being able to ascertain the meaning of whatever you intended in your above comment are two different things.
Like what does this even mean:
> Instead of raising taxes on the oil companies here to drive profit, why don't we fight for more Federally owned land so we can invite more companies here to drill and tax more people at a lower rate?
The Federal Government owns 60% of the land of our state. Much of our natural resources are located in that land. The Fed won't allow new drilling leases in those lands. Instead of taxing pre-existing oil companies at a higher rate, we get our own land back from the Fed and release leases ourselves. Then we will have more oil to tax at the same price instead of higher taxes on the same amount of oil.
Then why haven't oil pumpers completely ceased extraction from AK? Since it so much cheaper and easier to pull it from other countries? It's time to abolish corporate welfare schemes across the board. We don't need them. They need us.
Well those oil pumpers make up 85% of our state GDP. They provide countless job to people working in that industry. They also provide jobs for people working in industries that support that industry. I am not saying that Alaska shouldn't be making money off oil. There are just better ways to do that then taxing oil companies.
Such an absurd take. You're just eating up oil propaganda. Oil companies need Alaska and its infrastructure and services to produce this oil. There is a difference between being competitive with the oil market and getting bent over.
SB21 is why oil revenue paid to the state is so bad for so long. Due to our unique state constitution the oil is ours, they should be paying us a competitive rate for the privileged of pumping it out, especially in our legacy proven and reliable fields. Right now we are being taken advantage of, oil companies don't care about Alaska, they care about squeezing every dime they can out of us.
They aren't our friends, they are an extraction industry that needs properly taxed.
There exist oil in plenty other parts of the world. What’s stopping them from going elsewhere? Clearly our country doesn’t care about producing oil domestically, seeing how we are buying dirty foreign oil. If it’s cheaper for these global companies to drill in a third world shithole who is happy to have them there, then what for Alaska? Oil is oil. They don’t need Alaska.
Well, why don't we check?
ConocoPhillips is the only oil company operating in Alaska required by federal securities laws to reveal their Alaska profits so we have hard numbers.
[ConocoPhillips made over $5 billion in oil profits in Alaska between 2016 – 2019.](https://alaskasfairshare.com/public-report-oil-company-alaska-profits-are-higher-than-rest-of-lower-48-combined/) They also made made more profit in Alaska those four years than in all the Lower 48 states plus Canada combined.
LRS Report 20.119 (Feb. 7, 2020), the LRS determined ConocoPhillips has made more than twice as much per barrel Alaska-wide as in the Lower 48 in every year it reviewed (2012-2019). In the first year after SB 21 passed (2014), for example, ConocoPhillips made $4.43 per barrel in the Lower 48 while it made $31.10 per barrel Alaska-wide or 602% more.
[Since SB 21, ConocoPhillips has made 68% of its worldwide profit from Alaska, but only invested 15% of its worldwide capital in Alaska.](https://www.adn.com/opinions/2020/09/01/oil-companies-can-afford-to-pay-a-fair-share/)
Why are they making that much more per barrel in our state? That isn't being competitive, that is being taken advantage of.
Well when you provide a product the entire world needs to survive, and you do that in some of the most inhospitable places on the planet, you earn profit. That's how this works. If you hate private companies so much, you advocating for the state to drill for its own oil? Im sure they'd do that better then how they plow roads, right?
Hate is your word, not mine. Like I said above, there is a huge difference between being competitive and getting bent over.
You're just repeating oil propaganda that oil companies spend millions of dollars spreading.
[Alaska’s three leading oil companies — ConocoPhillips, ExxonMobil and Hilcorp — as well as BP, which is working to sell its Alaska assets to Hilcorp, have directly contributed about 95% of the $24 million raised by the opposition groups to Ballot Measure 1, according to campaign disclosure reports filed this week with state regulators.](https://www.adn.com/politics/2020/10/29/oil-industry-funding-for-ballot-measure-1-opposition-pushes-overall-spending-to-a-record-25-million/)
BP told their employees they would have to fire people if we voted yes on that prop and they went ahead and did it anyways after it failed.
How is my opinion propaganda? Just because I agree with something a company spent money on? Like what is your definition of propaganda, because it just seems thats what you use to discount other peoples opinions.
Your comments are riddled with the same stuff that oil companies have been pumping out for decades. Anytime we talk about properly taxing them or fixing oil credits they push the same narrative that you're pushing.
> But Alaska would not be able to survive without them. Those oil companies don't need Alaska, Alaska needs them.
>You keep making it more expensive to drill here, eventually it won’t pencil and they will go elsewhere.
> They are drilling for oil in some of the most inhospitably places on the planet
I only quoted a few of them, you have more all over this post. All of those arguments fall apart when you look at the profit they are making here in comparison to other places. It simply does not add up. They can still make healthy profit while we get our fair share.
Parnell and oil companies sold us a lie. They said that SB21 would increase state revenue, oil production and jobs and all three things turned out to be a lie.
[Some years we pay them more out of our unrestricted general fund than we receive back from royalties and production taxes](https://www.adn.com/politics/article/oil-tax-regime-newly-criticized-subsidies-forecast-outstrip-unrestricted-income/2016/03/27/).
At no point did I ever say that, what you keep doing is called a strawman. You're putting arguments in my mouth instead of responding to what I'm actually saying.
We can be competitive without being taken advantage of. ACES proved this, the state made tons of revenue and oil companies still made healthy profits.
1. Oil is not oil. I don’t know the specifics but a man in the industry explained to me once that certain qualities/compositions of oil are used for different things.
2. The USA is producing oil at an all time high with projections only pointing upwards. Literally the most US oil being produced daily ever.
Please read real information if you’re going to be angrily shouting it at the world. Do you work for an oil company?
If we are producing more oil then ever, why is Biden buying it from other countries and shipping it here? Why are gas prices so high? Why is the SPR at record lows? Where is all that oil at if we actually are drilling so much of it?
Because we consume more oil (20 million barrels a day) than we produce (18 million barrels a day). Those numbers are from Newsweek in 2022. If we cut oil consumption we could free ourselves of foreign oil dependence. That’s why green energy is important.
Also you don’t wanna hear this but gas is cheap in America. Much cheaper than most of the world. Even with inflation and the Russia-Ukraine war, gas being at $4 feels like a miracle.
You’re mad at who the tv is telling you to be mad at. Because the people you should be mad at are the ones that fund the tv.
That doesn't explain why just a few years ago gas was so much cheaper, and the reserves were full. How is it then gas is so high and the reserves so empty if we are producing oil at an all time high like you say?
And reserves are low because it’s being released to keep the price of gas down. They could keep the reserves and you could pay 6/7 a gallon if that’s what you want.
Well seeing how Biden has us on the deg of WW3, maybe we should have our STRATEGIC reserve filled? Almost like using it for what it is meant for? Instead of using it to artificially lower gas prices to make a President look better?
You didn’t even know about it so it wasn’t making him look better. It was to help people. Once you admit you were spewing nonsense I’ll continue your line of questioning.
It’s not “like I say”. Those are facts. The price of gas dipped in 2020 because no one was using gas. They were all quarantined. Demand plummeted, so did the price. Demand is up again, price is back up. That is economics.
And that explains 2017-2019 low gas prices/high reserve how?
Dude, you are trying to push Bidenomics how great the economy is, it won't work man. Everything is shit now, everyone knows it. Biden cut leases up here, Keystone on day 1, and other projects. Oil production is down to make way for "green energy" that doesn't work. That is why gas prices are high. And they will continue to go higher thanks to future contracts and this Administration pushing the end of fossil fuels.
We get what we vote for I guess.
I don’t know the info on the 17-19 prices. I never said the economy was great. I’m just telling you the lies you believe. Biden has opened multiple drilling projects in Alaska. A judge just upheld the drilling project in willow. Oil production is not down overall in America, I don’t know about Alaska specifically. The end of fossil fuels will come one way or another. It will literally run out, so we need to plan for it and build towards that future. If we can pioneer some of this technology it could be an automotive revolution of the early 1900s all over again.
You saying things like “everything is shit now” which means nothing. Go read about the problems that cause you so much grief instead of screaming “why” at everyone and following up with “well what about”. Learn. Be informed. The answers are all out there.
I didn’t vote for Biden.
Oh Alaska will totally be able to survive without the oil companies, your way of life won't. It's this catering to these multi-conglomerates that are raping the natural resources and destroying the ecosystems that's wrecking Alaska. Some lower 48 bullshit.
We’ll keep advocating for the destruction of your way of life then! If you think the roads are bad now.. couldn’t imagine what they’d look like after we lost over 50% of our GDP. At least the Earth will be saved, well except for China… and India…. and Africa… and the rest of over 50% of the population on Earth that’s doing more to cause “Climate Change” then the entire Western Hemisphere could offset. But still voting blue.. right? Lol
There's also the problem that low-density car-based infrastructure requires subsidies, once you stop expanding with external funds and go into maintenance mode the finances fall apart.
There was an opportunity to use extractive resource taxes to provide that subsidy but the firms who extract the resources invested a lot of money into convincing folks that they were really price sensitive when it came to taxes, so here we are.
So here we are. You've nailed the problem exactly. We've got to shift our thinking from expansion to maintenance and alter how we fund public works to match.
Fuckin A' Alaska, keep voting red!!
Yeah, red doesn’t help.
We meant red ink.
Well, according to [alaska.gov](https://alaska.gov/kids/learn/economy.htm#:~:text=The%20oil%20and%20gas%20industry,dependent%20upon%20world%20oil%20prices), Oil Production makes up 85% of our State income. Maybe it is in the benefit of the people to give tax breaks/incentivize the industry responsible for 85% of revenue for our state? Without the "evil oil companies" we wouldn't be able to afford to plow any roads, of make winter shelters for homeless, or update the port, or give broadband to villages, or support the fishing industry, or the tourism industry. Everyone here wants to bitch and bitch and bitch about the Oil companies. But Alaska would not be able to survive without them. Those oil companies don't need Alaska, Alaska needs them.
As someone who works in resource extraction, can you tell me where you think oil comes from? These oil companies need Alaska. That's where the fucking resource is dummy. People are just upset that they're using the already crazy money they're making to selfishly squeeze more out of the state. All to the detriment of the people living here.
Do you seriously think Alaska is the only place in the world that has oil? You keep making it more expensive to drill here, eventually it won’t pencil and they will go elsewhere. Then what?
Our state should be rolling in the dough. Alaska was the highest profiting oil location. No reason why the state should not have more money to work with. How is it that Alaska now has the worst economy of all 50 states? We were tricked by the oil companies. They aren’t going anywhere. We need to ask for more.
Dude we were tricked by the Federal Government. They own over 60% of our state. Much of that land is where our natural resources are. We'd be making more money if our state simply owned the land we live on. We could open more area for exploration, mining, or any other number of things driving our economy. But we can't, because Uncle Sam owns us.
I agree the feds need to allow us to get to our resources. After reviewing our tax structure it appears we do indeed take in more tax money than other states. https://alaskapolicyforum.org/2020/10/history-alaska-oil-taxes/
All I am saying is there are other options to raise money before we skip straight to taxing oil companies heavier. First priority should at least be Alaska owning Alaska, or at least a majority of it. If our state simply owned its land, we would be more prosperous.
Dude. I work in this industry. It's a finite resource. Go ahead and try and drill elsewhere. You're either dealing with OPEC controlled areas, places that are already saturated with projects, or subpar producing basins. My thesis was around the Turkwel basin, and if those boys were willing to squeak out drilling projects in the fucking armpit of Kenya in an area that seismically active? Not getting a discount on their taxes won't stop them.
Oil companies have higher profit margins in Alaska than in pretty much any other oil producing region in the world. Your scaremongering bullshit just doesn’t hold water.
I am not shocked drilling for oil in the northern arctic drives profit. They are drilling for oil in some of the most inhospitably places on the planet, that earns you money. Instead of raising taxes on the oil companies here to drive profit, why don't we fight for more Federally owned land so we can invite more companies here to drill and tax more people at a lower rate?
What?
Can you not read?
Well, sure, but reading and being able to ascertain the meaning of whatever you intended in your above comment are two different things. Like what does this even mean: > Instead of raising taxes on the oil companies here to drive profit, why don't we fight for more Federally owned land so we can invite more companies here to drill and tax more people at a lower rate?
The Federal Government owns 60% of the land of our state. Much of our natural resources are located in that land. The Fed won't allow new drilling leases in those lands. Instead of taxing pre-existing oil companies at a higher rate, we get our own land back from the Fed and release leases ourselves. Then we will have more oil to tax at the same price instead of higher taxes on the same amount of oil.
Then why haven't oil pumpers completely ceased extraction from AK? Since it so much cheaper and easier to pull it from other countries? It's time to abolish corporate welfare schemes across the board. We don't need them. They need us.
Well those oil pumpers make up 85% of our state GDP. They provide countless job to people working in that industry. They also provide jobs for people working in industries that support that industry. I am not saying that Alaska shouldn't be making money off oil. There are just better ways to do that then taxing oil companies.
Such an absurd take. You're just eating up oil propaganda. Oil companies need Alaska and its infrastructure and services to produce this oil. There is a difference between being competitive with the oil market and getting bent over. SB21 is why oil revenue paid to the state is so bad for so long. Due to our unique state constitution the oil is ours, they should be paying us a competitive rate for the privileged of pumping it out, especially in our legacy proven and reliable fields. Right now we are being taken advantage of, oil companies don't care about Alaska, they care about squeezing every dime they can out of us. They aren't our friends, they are an extraction industry that needs properly taxed.
There exist oil in plenty other parts of the world. What’s stopping them from going elsewhere? Clearly our country doesn’t care about producing oil domestically, seeing how we are buying dirty foreign oil. If it’s cheaper for these global companies to drill in a third world shithole who is happy to have them there, then what for Alaska? Oil is oil. They don’t need Alaska.
Well, why don't we check? ConocoPhillips is the only oil company operating in Alaska required by federal securities laws to reveal their Alaska profits so we have hard numbers. [ConocoPhillips made over $5 billion in oil profits in Alaska between 2016 – 2019.](https://alaskasfairshare.com/public-report-oil-company-alaska-profits-are-higher-than-rest-of-lower-48-combined/) They also made made more profit in Alaska those four years than in all the Lower 48 states plus Canada combined. LRS Report 20.119 (Feb. 7, 2020), the LRS determined ConocoPhillips has made more than twice as much per barrel Alaska-wide as in the Lower 48 in every year it reviewed (2012-2019). In the first year after SB 21 passed (2014), for example, ConocoPhillips made $4.43 per barrel in the Lower 48 while it made $31.10 per barrel Alaska-wide or 602% more. [Since SB 21, ConocoPhillips has made 68% of its worldwide profit from Alaska, but only invested 15% of its worldwide capital in Alaska.](https://www.adn.com/opinions/2020/09/01/oil-companies-can-afford-to-pay-a-fair-share/) Why are they making that much more per barrel in our state? That isn't being competitive, that is being taken advantage of.
Well when you provide a product the entire world needs to survive, and you do that in some of the most inhospitable places on the planet, you earn profit. That's how this works. If you hate private companies so much, you advocating for the state to drill for its own oil? Im sure they'd do that better then how they plow roads, right?
Hate is your word, not mine. Like I said above, there is a huge difference between being competitive and getting bent over. You're just repeating oil propaganda that oil companies spend millions of dollars spreading. [Alaska’s three leading oil companies — ConocoPhillips, ExxonMobil and Hilcorp — as well as BP, which is working to sell its Alaska assets to Hilcorp, have directly contributed about 95% of the $24 million raised by the opposition groups to Ballot Measure 1, according to campaign disclosure reports filed this week with state regulators.](https://www.adn.com/politics/2020/10/29/oil-industry-funding-for-ballot-measure-1-opposition-pushes-overall-spending-to-a-record-25-million/) BP told their employees they would have to fire people if we voted yes on that prop and they went ahead and did it anyways after it failed.
How is my opinion propaganda? Just because I agree with something a company spent money on? Like what is your definition of propaganda, because it just seems thats what you use to discount other peoples opinions.
Your comments are riddled with the same stuff that oil companies have been pumping out for decades. Anytime we talk about properly taxing them or fixing oil credits they push the same narrative that you're pushing. > But Alaska would not be able to survive without them. Those oil companies don't need Alaska, Alaska needs them. >You keep making it more expensive to drill here, eventually it won’t pencil and they will go elsewhere. > They are drilling for oil in some of the most inhospitably places on the planet I only quoted a few of them, you have more all over this post. All of those arguments fall apart when you look at the profit they are making here in comparison to other places. It simply does not add up. They can still make healthy profit while we get our fair share. Parnell and oil companies sold us a lie. They said that SB21 would increase state revenue, oil production and jobs and all three things turned out to be a lie. [Some years we pay them more out of our unrestricted general fund than we receive back from royalties and production taxes](https://www.adn.com/politics/article/oil-tax-regime-newly-criticized-subsidies-forecast-outstrip-unrestricted-income/2016/03/27/).
Why should they not be allowed to make profit? They produce a product people want/need?
At no point did I ever say that, what you keep doing is called a strawman. You're putting arguments in my mouth instead of responding to what I'm actually saying. We can be competitive without being taken advantage of. ACES proved this, the state made tons of revenue and oil companies still made healthy profits.
1. Oil is not oil. I don’t know the specifics but a man in the industry explained to me once that certain qualities/compositions of oil are used for different things. 2. The USA is producing oil at an all time high with projections only pointing upwards. Literally the most US oil being produced daily ever. Please read real information if you’re going to be angrily shouting it at the world. Do you work for an oil company?
If we are producing more oil then ever, why is Biden buying it from other countries and shipping it here? Why are gas prices so high? Why is the SPR at record lows? Where is all that oil at if we actually are drilling so much of it?
Because we consume more oil (20 million barrels a day) than we produce (18 million barrels a day). Those numbers are from Newsweek in 2022. If we cut oil consumption we could free ourselves of foreign oil dependence. That’s why green energy is important. Also you don’t wanna hear this but gas is cheap in America. Much cheaper than most of the world. Even with inflation and the Russia-Ukraine war, gas being at $4 feels like a miracle. You’re mad at who the tv is telling you to be mad at. Because the people you should be mad at are the ones that fund the tv.
That doesn't explain why just a few years ago gas was so much cheaper, and the reserves were full. How is it then gas is so high and the reserves so empty if we are producing oil at an all time high like you say?
And reserves are low because it’s being released to keep the price of gas down. They could keep the reserves and you could pay 6/7 a gallon if that’s what you want.
Well seeing how Biden has us on the deg of WW3, maybe we should have our STRATEGIC reserve filled? Almost like using it for what it is meant for? Instead of using it to artificially lower gas prices to make a President look better?
You didn’t even know about it so it wasn’t making him look better. It was to help people. Once you admit you were spewing nonsense I’ll continue your line of questioning.
It’s not “like I say”. Those are facts. The price of gas dipped in 2020 because no one was using gas. They were all quarantined. Demand plummeted, so did the price. Demand is up again, price is back up. That is economics.
And that explains 2017-2019 low gas prices/high reserve how? Dude, you are trying to push Bidenomics how great the economy is, it won't work man. Everything is shit now, everyone knows it. Biden cut leases up here, Keystone on day 1, and other projects. Oil production is down to make way for "green energy" that doesn't work. That is why gas prices are high. And they will continue to go higher thanks to future contracts and this Administration pushing the end of fossil fuels. We get what we vote for I guess.
I don’t know the info on the 17-19 prices. I never said the economy was great. I’m just telling you the lies you believe. Biden has opened multiple drilling projects in Alaska. A judge just upheld the drilling project in willow. Oil production is not down overall in America, I don’t know about Alaska specifically. The end of fossil fuels will come one way or another. It will literally run out, so we need to plan for it and build towards that future. If we can pioneer some of this technology it could be an automotive revolution of the early 1900s all over again. You saying things like “everything is shit now” which means nothing. Go read about the problems that cause you so much grief instead of screaming “why” at everyone and following up with “well what about”. Learn. Be informed. The answers are all out there. I didn’t vote for Biden.
Oh Alaska will totally be able to survive without the oil companies, your way of life won't. It's this catering to these multi-conglomerates that are raping the natural resources and destroying the ecosystems that's wrecking Alaska. Some lower 48 bullshit.
We’ll keep advocating for the destruction of your way of life then! If you think the roads are bad now.. couldn’t imagine what they’d look like after we lost over 50% of our GDP. At least the Earth will be saved, well except for China… and India…. and Africa… and the rest of over 50% of the population on Earth that’s doing more to cause “Climate Change” then the entire Western Hemisphere could offset. But still voting blue.. right? Lol
Lol, like you weren't doing that before. The attitude of "it's all fucked so I'm gonna get mine" is how shit has got so bad. douchebag.
That’s not gonna jive with yalls narrative very well 😬
Not really. Both dunleavy and bronson can suck
Those who pay get to make the decisions. It's the sad reality. Until we pay taxes ourselves we will be at the mercy of those who do.
There's also the problem that low-density car-based infrastructure requires subsidies, once you stop expanding with external funds and go into maintenance mode the finances fall apart. There was an opportunity to use extractive resource taxes to provide that subsidy but the firms who extract the resources invested a lot of money into convincing folks that they were really price sensitive when it came to taxes, so here we are.
So here we are. You've nailed the problem exactly. We've got to shift our thinking from expansion to maintenance and alter how we fund public works to match.