These are my reasons for voting NO one 1. • I’m employed by the oil industry, have been for 30 years, and there are at least 20 more people not in the oil industry that are employed in Alaska due to this. If my job goes away – so does theirs. • It’s not my oil nor is it yours. Are you going to go drill and produce it? The oil companies have invested Billions of dollars to secure leases, obtain permits, build roads, pads, facilities, pipelines, rigs and infrastructure. They’ve had to invent, develop, engineer and create most of the technology to operate in the Arctic – much at their own investment risk and cost. • If more money goes into the tax coffers – that money doesn’t go to you and I – It will go to state, and what do you think they will do with it? There will be fewer jobs, less money in our economy and less value in just about everything from real estate to goods. Remember 1986 when home values and the job market plummeted? What do you think will happen if the oil companies invest their money elsewhere? Because they will do just that. Would you invest your 401K money in stocks that make more or less money on your return? Think about it, do we want to encourage investments and jobs or turn them away? • 90% of all state revenue comes from oil – 90 PERCENT! Without more drilling and exploration the revenue will dwindle to nothing. Then where will the jobs and revenue come from? Sales tax and Income tax won’t make it, not with thousands of high paying jobs going away and a state in depression. • Everyone benefits from a stronger economy. It means more jobs that are better paying, more personal wealth means more spending on homes, land, and small business. How is this not better then giving it away to the state? If ACES is reinstated the economy will suffer – we will suffer. The debate last night focused on production over the past 7 months, that’s not enough time to see any increase in production. It takes time to drill new wells, develop new drill sites and add pipe lines. Think about a new exploration well, it takes a year to do seismic surveying, another year to analyze the data, another year to get permitting and approval to build drill sites, pipelines and get funding approval from shareholders, another year to install pads and pipelines and then a year to drill wells. But what we have seen since SB21 was enacted is an increase in investments – over 4 billion, and increased employment both on the North Slope and in small business. Were winning with SB21, ACES is a failed tax structure that we were losing with.
Posted on: Wed, 13 Aug 2014 03:55:10 +0000
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