ADN.  Alaska Gov. Bill Walker’s administration plans to propose reducing the state’s $600 million oil and gas tax credit program, cutting back on breaks to industry that are no longer needed, Revenue Commissioner Randy Hoffbeck said Tuesday.

In a meeting in Anchorage of a state Senate working group on tax credits, Hoffbeck told assembled lawmakers and industry representatives that state payments aimed at reviving a flagging natural gas industry in Cook Inlet had worked. There are no longer fears of a shortage in Anchorage and elsewhere in Southcentral Alaska, he said.