For Immediate Release: April 7th, 2014
Senator: Oil Production Forecast Shows SB 21 Will Lead to Less, Not More, Production
JUNEAU – Senator Bill Wielechowski (D-Anchorage) commented today on the latest oil production forecast issued by the Alaska Department of Revenue.
The forecast predicts a precipitous decline in oil production over the next decade from 536,000 barrels per day in 2014 to 321,000 barrels per day in 2023.
“We were told by the Governor and his consultants that the last year’s Oil Wealth Giveaway would increase production within a matter of years. Indeed the Governor said slashing oil taxes and Alaskans’ earnings was vital to achieving his goal of a million barrels a day,” said Senator Wielechowski.
“Today’s announcement by the Administration confirms that this approach is an utter failure, a flop of epic proportions. Instead of more production over the coming decade, the Governor is predicting a 40% decline,” stated Senator Wielechowski.
For more information contact Senator Wielechowski at (907) 465-2435.