Alaska is Unique When it Comes to Oil Ownership and Taxes

Around the globe, there are two basic systems governing the ownership of oil. In the first, resources are owned and controlled by the government. In the second, personal property rights extend all the way down to the core. The difference between the treatment of subsurface mineral ownership has far reaching implications. And, Alaska finds itself[…]

What Will GMT1 Produce For The State Budget?

ConocoPhillips Alaska did a great job of getting the first Greater Moose’s Tooth (GMT1) development into production, ahead of schedule and under budget. We are all excited to have the new oil flowing. It signals the beginning of another renaissance for the North Slope. But, the oil is coming from non-State land in the NPR-A.[…]

Production is Up. Does that Mean SB21 is Working?

When the 28th legislature narrowly passed SB21 in 2013, I was working as a policy analyst for the Department of Revenue. I still remember the late night committee hearings and the frantic preparation of fiscal notes. At the end of the day, the bill was named the “More Alaska Production” act. While the name didn’t[…]