Parnell Supports Oil Tax Relief - Nebraska Senator Opposes TransCanada Project - American Enviros Attack Oil Sands - CIRI Promotes Wind Project

Alaska Dispatch, by Patti Epler. Alaska Gov. Sean Parnell (NGP Photo-R-appearing with Attorney General Dan Sullivan-L) now says he supports a major revamp of the state’s oil tax structure to make Alaska more competitive when it comes to oil industry investment. The governor had been a staunch supporter of ACES — Alaska’s Clear and Equitable Share — which was put in place in 2007 by then-Gov. Sarah Palin and a nearly unanimous Legislature. The tax structure has base rate of 25 percent on the net value of oil and also has a "progressivity" factor that shifts an even bigger percentage to the state when oil prices rise. Critics, including the North Slope oil producers and some economists, say the tax structure is inhibiting more investment in Alaska at a time when oil production is slowing because it effectively takes away the companies’ ability to make large profits as an oil field ages. Supporters, including legislative Democrats, say ACES has generated billions of dollars for the state in the last couple years while oil companies are continuing to make record profits. In recent weeks at various public forums, Parnell has suggested he would be willing to re-visit ACES, which is a popular theme among numerous candidates for the Legislature this year. On Friday, Parnell was the featured speaker at the Resource Development Council lunch and used the forum to unveil details on his ideas for trying to boost more oil development in Alaska, which the state depends on for revenue and jobs. … He also sounded optimistic about the gas pipeline from the North Slope to Canada as well as a line to Valdez for possible exports of LNG. (See more event photos here. See video and .pdf of Governor Parnell’s comments here.) … Houston Chronicle, by Becky Bohrer. Gov. Sean Parnell said Friday that the state is working to settle a legal dispute over leases that could be critical to the advancement of a major natural gas pipeline in Alaska. Parnell declined to get into specifics but said he’s "increasingly optimistic" that litigation over the North Slope’s Point Thomson gas fields can be resolved out of court. The yearslong dispute stems from the state’s yanking of leases that it believes oil and gas companies sat on for too long without developing. … David Eglinton, a spokesman for Exxon Mobil Corp., the Point Thomson unit operator, confirmed the Irving, Texas-based company is working with the state to resolve "outstanding issues, but more work still needs to be done."

Steve Porter Blog (NGP Photo): The only way it makes sense for the state to build the (gas) pipeline is if Trans-Canada’s open season failed. Denali’s open season would also have to have failed as well. That means that the shippers of the gas believe the project to Valdez and the project through Canada are both uneconomic. Based on this assumption let’s look at the state owned and funded all-Alaska project.

Calgary Herald. Pressure against TransCanada Corp.’s Keystone XL pipeline mounted this week in Nebraska with farmer advocates joining congressional representatives in opposition to the bitumen line. In a letter released late Thursday Nebraska Senator Mike Johanns asked Secretary of State Hillary Clinton to reassess the routing of Keystone XL through his state.

ADN Commentary by Margie Brown (NGP Photo), CIRI President & CEO. I urge Southcentral Alaskans to support Fire Island wind and other local solutions to the Railbelt’s looming energy crisis. And in the meantime, when the mayor asks you to turn down the heat and turn off the lights, you should probably listen.

First Alaskans by Tim Bradner. Sean Parnell (NGP Photo) is calm, cautious, steady-as-you-go, and his policies as Alaska’s sitting governor are just that, and just like him. … Parnell’s cautious style immediately offered Alaskans sharp contrasts with Palin – it was a relief to many – but Parnell did feel obliged to carry on with several of Palin’s controversial resource development policies, like with the natural gas pipeline and oil taxes.

Financial Post, by Vivian Krause. Like most protests, the one against oil tankers has all the look and feel of a Canadian grassroots movement. The campaign against Alberta’s oil sands also seems to rise out of the people, but the interesting thing is that there are very few roots under that grass. Money comes in from a small core of U.S. charitable groups. One of those groups — the U.S. Tides Foundation of California and its Canadian counterpart have paid millions to at least 36 campaign organizations.

Friday, October 25, 2010 RDC Meeting, Captain Cook Hotel – Event Photos:

Jason Brune