Freedomwriter.com Logo
Alaskan Flag

Headline News
Alaska
About Us About Us
Advertising Advertising
Archive Archive
Art & Literature Art & Literature
Classifieds Classifieds
Commentary Commentary
Commentary Consumer News
Contact Us Contact Us
Guestbook Guestbook
Guest Forum Guest Forum
Headline News Headline News
Letters to the Editor Letters to the Editor
Opinion Poll Opinion Poll
Our Links Our Links
Quotations Quotations
Trading Post Trading Post
Home Home


Note: Links to other sites will open in a new window.

THE POLITICS OF OIL

Ray Metcalfe
Anchorage, AK
Feb. 19, 2002

In 1974, Saudi established "OPEC-Terms," an oil tax-rate equaling 80 to 85% of profits.

In 1998 Phillips paid 250 million for drilling rights in Kazakhstan. Their contract allows Phillips to keep about 17% of profits. Kazakhstan keeps about 83%.

Alaska's Prudhoe Bay severance tax-rate is 15% and Alaska's royalty is 12.5%. The Feds take 24%.

All other government charges combined, our oil companies keep about 43% of profits from the sale of our oil. Over twice what they accept in places with higher risk.

Over the last 25 years, Kuwait produced about the same amount of oil as Alaska.

Even though Kuwait has 350,000 more citizens than Alaska, each Kuwaiti receives between $10,000.00 and $16,000 in annual Dividends and Kuwait's Permanent Fund is ten times bigger than ours. All from a similar amount of oil!

What's wrong with this picture?

People owing their political existence to oil companies dominate our legislature.

They are planning to raise your taxes and cut your services and to balance the budget; unfortunately, there isn't enough money in the pockets of Alaskan's to balance the budget.

Alaska could double its income from oil by managing our resources in a manner consistent with world markets. If we don't, this state is destined for bankruptcy.

If we start before the oil runs out, we can grow our Permanent Fund to the size necessary to continue to pay dividends and fund government from its earnings.

But it won't happen unless we deliver the message. Tax oil not me!


Ray Metcalfe is Chairman of the Republican Moderate Party
907-344-4514

(Enhanced for Netscape)

top Top

Previous Page


ptbas.jpg - 5185 Bytes
Web Alaska Copyright © 2002. All Rights Reserved