Former half term governor of Alaska Sarah Palin signed her tax structure into law in 2007, aligning herself with Democrats who said the extra revenue would help Alaska invest in new jobs. The future of Alaska will benefit from the repeal of an oil tax championed by Sarah Palin when she was governor, and it will bring in enough crude to end the state’s two-decade-long slump in production.
Governor Sean Parnell signed a bill in May that wipes out a system which was the highest tax rate on private business and it was backed by Palin. This so called conservative Republican administration essentially set up this tax system tying oil producers’ taxes to the price of crude. The end of the “progressivity” formula has triggered investments from companies including BP and Conoco that may boost the state’s output by at least 90,000 barrels a day within four years and renew exploration in the nation’s second-largest oil reserve, estimated at 3.82 billion barrels.
@AkSyrin: BP to Conoco Seek Alaskan Oil Comeback as Palin Tax Dies: Energy http://t.co/rblB6lzOv3 via @BW
Good riddance to you Sarah Palin! You will never work in this state again!!