Our Commentary Goes Nationwide

We find more evidence supporting the wisdom of oil tax reform

by

Dave Harbour

CBC.  To avoid disturbing the site where ancient human bones were discovered, a Saskatchewan pipeline company says it will tunnel deep below.​

On Wednesday, we inventoried ways in which the Federal government was hamstringing job creation by blocking natural resource development (i.e. Thinking Critically About CNBC).

Yesterday, we noted that the Steller Sea Lion is finally off the threatened species list.

Doc Hastings, Congressman, Prairie-Chicken, Lesser, US fish and wildlife service, Western Association of Fish and Wildlife Agencies' Lesser Prairie-Chicken Range-Wide Conservation Plan, Photo by Dave HarbourToday, Congressman Doc Hastings (NGP Photo) explains why citizens must still remain critical of Administration strategy (re: Lesser Prairie-Chicken Range-Wide Conservation Plan–another initiative that threatens human livelihoods.)  -dh

Also note: The National Blueways Secretarial Order was signed by Interior Secretary Ken Salazar in 2012 and creates unilateral authority for the Secretary to designate entire watersheds as “National Blueways.” 

More: The nation's energy infrastructure is under attack. The destruction of the utilities that provide electricity or its ability to refine oil is critical to crippling a nation's ability to function, based on the universal use of hydrocarbons such as coal, natural gas, and oil.  EnergyBiz.

Earlier this week, we posted a commentary on Repsol's Alaska investment (i.e. Take Heart But Take Heed).  That commentary Governor Sean Parnell, More Alaska Production Act, Repsol, SB 21, Photo by Dave Harbourwas edited and reformatted by Master Resource, with our permission, and released today to its thousands of readers.  In part, we said, "In 2011, Repsol acquired a large lease position in Alaska given the rich prospecting and the upside of positive tax reform in the state. The latter occurred in mid-2013 with the passage of Senate Bill 21, the More Alaskan Production Act, signed into law by Governor Sean Parnell (NGP Photo).

 
Late yesterday, a reader (i.e. J.N.) alerted us to a related Wall Street Journal article.  In it, we find that the highly respected independent operator, Pioneer Natural Resources, has sold its Alaska operations to another firm attracted to the state by oil tax reform.   According to the Wall Street Journal article, James C. Musselman, President and CEO of Caelus Energy Alaska LLC, stated, "We are excited to enter the North Slope through the purchase of Pioneer's assets. The current Pioneer Alaska team is very impressive and has the experience to develop the significant resource potential they have identified and help us grow the business in the future. We are attracted to Alaska because of the enormous geologic opportunity as well as the incentives, such as SB 21, that the state has put in place to encourage energy investment by independent oil and gas companies."
 
 
Some opponents of tax reform — those seeking repeal of the new reform act — believe that more moderate taxation does not attract more investment.  We urge citizens on a local and national basis in both the United States and Canada to put new credence on the very basic economic principle that, "The more you tax the less you get."  
 
We do admit, however, that economic realities sometimes take years to manifest themselves.  This means that in the short term, a greedy government may well make 'more' NOW for current beneficiaries by taxing more — even if it is at the LATER expense of the helpless, non-voting generation who depend on our judgment and decisions.  -dh