For Immediate Release: June 10th, 2014
Senators Challenge Governor: One new barrel, One more dollar by 2019 or Revert to ACES
Plan provides Alaska with fair share if SB 21 fails to bring new oil or increased revenue
ANCHORAGE – Today Senators Hollis French (D-Anchorage) and Bill Wielechowski (D-Anchorage) proposed a challenge to Governor Parnell aimed at ensuring Alaskans receive their fair share of oil wealth, should Senate Bill 21 fail to bring Alaska both increased production and increased revenue.
“We need to protect Alaskans, not corporations. It is a very simple challenge – if SB 21 produces new oil, even ONE additional barrel, and this production results in increased revenue to the state, even ONE more dollar we will drop our support for revising oil taxes,” said Senator Wielechowski.
Senate Bill 21, the Giveaway, has resulted in dramatic revenue drops to Alaska. While officials in the Parnell administration, including the Governor himself, made bold predictions of North Slope production ramping back up to one million barrels per day as a result of the multi-billion dollar giveaway, recent revenue receipts and future production estimates tell a much different story.
“The fact is we were all sold a pack of lies. There is no new oil today and the Administration estimates a 45% drop in production over the next eight years. Under ACES we saved $17 billion, under SB 21 we are laying off teachers and burning over $2 billion dollars in savings this year alone. Alaskans deserve better. Our constitution demands it,” stated Senator French.
Legislation proposed by Senators French and Wielechowski calls for ACES to be retroactively implemented in 2019 if there is not one new barrel of oil produced compared to the 2013 TransAlaska Pipeline moving average of 531,000 (approx.) and total oil revenues from 2014 to 2018 are not any greater under SB 21 than they would have been under ACES.
“Call a special session, let’s pass this legislation and safeguard Alaska from more broken promises and half-baked policies,” said Senator Wielechowski.
To view the challenge letter sent to Governor Parnell, click here: http://alaskasenatedems.com/docs/061014_Gov-Sean-Parnell.pdf
For more information contact Senator French at (907) 244-7135 or Senator Wielechowski at (907) 242-1558.