UPDATED ACTION ALERT: Testify Against SB 114 (Oil Tax Increase)

UPDATED TIME TO TESTIFY: Thursday, May 4, 2023 beginning at 1:30 p.m.

SB 114, the latest oil tax bill, has been scheduled for several hearings this week, including taking public testimony Thursday, May 4th at 1:30 p.m. before the Senate Finance Committee.

Please call in to voice your concern and opposition to raising taxes on the oil and gas industry at this time. It is essential that we hold our own against anti-development activists we know will show up in force. Thank you in advance for your ongoing support of the oil and gas industry in Alaska, as well as all Alaskans who benefit from a healthy, growing economy supported by the responsible development of our natural resources. Together, we can send a clear message to legislators that SB 114 is bad public policy and should not move out of committee. Please follow the instructions below to testify in opposition of SB 114 and consider the following suggested talking points.

How to Testify:

To testify in the Senate Finance committee, please do the following:
• Call-in number: 907-563-9085
• Ask for the Senate Finance committee and SB 114

In-person or telephone testimony is preferred. If you are unable to call in, written comments are also helpful. To send a message to all members of the Senate Finance committee, email them at: [email protected].

You can also visit your local Legislative Information Office (LIO).

And don't forget to let your local Senator and House Representative know how important this is to you! To find your Legislator: Visit the Alaska Legislature Home Page and at the bottom right corner, enter in your address in the “Who Represents Me” box.

Suggested talking points: Please consider personalizing to your individual experience, company or organization.

SB 114 threatens the future of oil and gas development in Alaska and would be a disaster for the economy, jobs, and Alaskans’ quality of life.

Senate Bill 114 is a massive tax increase that threatens to cripple Alaska's oil and gas industry, and every Alaskan will feel the impact. This complex piece of legislation will mean:

• Less oil in the pipeline
• Real threat of a natural gas shortage in southcentral Alaska
• Higher energy costs
• Alaska jobs at risk
• Companies investing outside of Alaska

SB 114 is a significant increase in taxes on large and small oil and gas companies, hitting both North Slope and Cook Inlet oil and gas fields, leading to fewer jobs and energy insecurity as electric utilities struggle to find enough natural gas to meet demand.

Instead of finding ways to increase oil and gas production in Cook Inlet to meet Alaskan’s energy needs, SB 114 has one goal – to raise revenue. Setting public policy based purely on how much money can be extracted from an industry is sure to backfire.

• SB 114 has NOT been modeled or analyzed by independent experts in any meaningful way.
• SB 114 utterly fails to acknowledge how the world has changed when it comes to how difficult it is for fossil fuel projects to be financed and approved.
• SB 114 provides disincentives for companies to spend money in Alaska.

Alaska has enough problems with outside environmental extremists trying to shut down oil and gas in our state. We are already dealing with the following challenges, so why would state leaders add another item to the following list?

• Big banks refuse to do business with companies investing in Arctic oil and gas.
• Insurance companies won’t insure Alaska oil and gas projects.
• The federal government fights Alaska development every step of the way.
• Extreme environmental groups sue to block every development project in Alaska.