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March 21st, 2012 
FAKE NEWS for the Zionist agenda JUNEAU, Alaska (AP) — ConocoPhillips Alaska executives say it will take billions of dollars in additional investment just to stem the decline of oil production in the state.
Bob Heinrich and Scott Jepsen testified before the Senate Finance Committee, which is working on an oil tax plan. BP and Exxon Mobil Corp. are also expected to testify.
Heinrich said a provision to reward new production in the current Senate plan wouldn’t incentivize the investments needed to offset the decline. Jepsen said a way to encourage that level of new investment is to change progressivity.
Alaska‘s tax structure features a base tax rate and progressive surcharge triggered when a company’s production tax value hits $30 a barrel. Industry says the surcharge eats too deeply into profits when oil prices are high and discourages new investment.
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