Rich Kruger by Dave Harbour, Alliance, ExxonMobil CEO, Alaska Oil TaxesLast week, ConocoPhillips and BP leaders adopted investment climate/tax reform positions supporting passage of HB 110 in the Alaska legislature.  Our friend, Bill Brackin of ExxonMobil provides a copy of the position paper below, signed by EM Production Company President Rich Kruger (NGP Photo):

                       UNITE FOR A BRIGHT ALASKAN FUTURE

   Alaska remains full of opportunity and promise. From the very first 
   Native Alaskans to all the citizens who live and work in the state
   today, Alaska’s challenges have been met by those willing to look beyond
   the horizon.  (more)

 
   Despite challenging environmental conditions, Alaska has achieved a
   remarkable and enviable position in the world by responsibly developing
   its natural resources – hard work that has fueled an engine of progress
   for the state and its people. Today, Alaska’s oil and gas production
   accounts for more than 34,000 jobs across the state and nearly 90
   percent of its general revenue.
 
   Unfortunately, the engine is not firing on all cylinders.
 
   Since 2007, Alaska’s Clear and Equitable Share (ACES) tax regime has
   failed to be either clear or equitable. Under ACES, nearly every
   measure of progress has declined, including investments and production.
   And as oil volumes flowing through the TransAlaska Pipeline (TAPS)
   continue to decline, the engine of progress is in very real danger of
   stalling.
 
   Governor Parnell has recognized the detrimental effect of ACES on
   Alaska’s future and is leading real changes to improve the state’s
   competitiveness. His proposals offer an important step in the right
   direction toward a brighter economic future for Alaska. It is our firm
   belief that passage of the Governor’s proposed changes to ACES, in its
   current form, will support additional investments in Alaska that will
   lead to greater development and production.
 
   Over the past several weeks there has been much discussion regarding
   Governor Parnell’s ideas for ACES reform. Most of the talk has focused
   on winners and losers in the near-term. In fact, the Governor is
   looking beyond the horizon to long-term solutions in which everyone
   wins.
 
   ExxonMobil is committed to Alaska’s future. We have worked here for
   more than 90 years, investing more than $12 billion to date and
   providing jobs for Alaskans. Currently, we are working with the state
   to bring the Point Thomson Project on line to produce additional oil and
   gas volumes in the near term. Going forward, we have joined with
   TransCanada to help bring a new gas pipeline to Alaska. Progressing
  these multi-billion dollar projects underscores ExxonMobil’s continued
   commitment to Alaska.
 
   Governor Parnell’s proposal provides a foundation to build on the
   opportunity and promise of the state’s vast natural resources and the
   indomitable spirit of its people.
 
   Whether you are a proponent or critic of ACES reform, we all seek the
   same goal – a strong and prosperous Alaska. We encourage all state
   legislators to work together to provide industry with an investment
   environment that will help secure a promising future for the people of
   Alaska.
 
   Rich Kruger, President
   ExxonMobil Production Company