Palin, Oil, and "Raising" Taxes
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Governor Sarah Palin has been unfairly criticised for "raising taxes" on the oil companies.
Alaska changed from PPT (Petroleum Profits Tax) to ACES (Alaska's Clear and Equitable Share). Some continue to bleat out that "Palin raised Oil Taxes". It is instructive to note that they avoid or outright ignore:
- The "fix" was in. PPT replaced the old tax ELF (Economic Limit Factor) in 2006 "with the support of legislators who have since been indicted on bribery charges in an FBI probe" (emphasis mine) Why wouldn't you would you want to go and change a tax plan passed by corrupt legislators?
- The new ACES plan was widely open to public discussion. Where is the criticism of the new plan from the public? (Note to PDS sufferers, "Public" doesn not mean "Oil Companies")
- "The state would collect more production tax revenue under ELF than we would under PPT at approximately $54 per barrel and below." Do you follow that ? When the price per bbl of oil is lower, the State of Alaska is taxing the Oil Companies less, helping it remain economically feasable to keep producing oil in Alaska.
















