MEETING WITH EXXON MOBIL
MEETING WITH EXXON
Met today with the Alaska Production Manager of Exxon Mobile, and one of their lobbyists. They pressed their case for not rushing into any changes in the current PPT oil tax due to the current scandals of legislators indicted for accepting bribes, etc. They also claimed the current PPT doesn‘t need to be changed because it is doing what it was designed to do, and that lower net profits of producers, and accompanying lower tax revenue to Alaska, is due to added expense of more aggressive exploration that PPT was designed to encourage. This likely is the beginning of pushback from producers on the Governor Palin’s ACES plan that would replace PPT, if passed. The most provocative and interesting question posed to me was of how much of every one dollar profit made by the producers I thought should go to the state. I didn’t answer their question (and they said no other legislator had answered it either).
Their arguments were professional, appropriate, and thought provoking. I said I’m going into the October Special Session with a generally positive view of Governor Palin’s ideas, but have not yet seen her actual ACES bill - and that the “devil could be in the details.” I made no commitments. I told them I recognize their duty to represent their shareholders interests’ i.e. maximum profit and, like them, I have an obligation to represent the best interests of my “shareholders” i.e. my constituents, and what’s best for all Alaska.
Met today with the Alaska Production Manager of Exxon Mobile, and one of their lobbyists. They pressed their case for not rushing into any changes in the current PPT oil tax due to the current scandals of legislators indicted for accepting bribes, etc. They also claimed the current PPT doesn‘t need to be changed because it is doing what it was designed to do, and that lower net profits of producers, and accompanying lower tax revenue to Alaska, is due to added expense of more aggressive exploration that PPT was designed to encourage. This likely is the beginning of pushback from producers on the Governor Palin’s ACES plan that would replace PPT, if passed. The most provocative and interesting question posed to me was of how much of every one dollar profit made by the producers I thought should go to the state. I didn’t answer their question (and they said no other legislator had answered it either).
Their arguments were professional, appropriate, and thought provoking. I said I’m going into the October Special Session with a generally positive view of Governor Palin’s ideas, but have not yet seen her actual ACES bill - and that the “devil could be in the details.” I made no commitments. I told them I recognize their duty to represent their shareholders interests’ i.e. maximum profit and, like them, I have an obligation to represent the best interests of my “shareholders” i.e. my constituents, and what’s best for all Alaska.
posted by Blogs by Rep Bob Lynn | 1:03 AM
1 Comments:
Reasonable and thoughtful...thanks.
I will be interested to see the text of the ACES proposal. While I tend to be skeptical of corporate interest in my wellbeing, I do feel they deserve to make a healthy profit for providing fuel for us. I'm especially not interested in such regulation that it begins to look like a state-owned utility.
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