Taylor Bickford, Campaign Manager

Juneau, AK – Following Senator Stedman’s lead, the state House made a last minute course correction tonight when it passed SB 305, the so called “decoupling” bill that will separate production taxes on oil and gas, potentially saving the state upwards of $20 billion in lost oil tax revenue.

Despite opposition from Governor Parnell and his administration, House members made the right decision and scored a strong victory for Alaska’s future, according to Republican gubernatorial candidate Bill Walker.

“The intent of AGIA was never to have Alaska subsidize a collapsed Canadian gas market, yet that is exactly what could happen if oil and gas taxes are not separated,” said Walker in a statement sent out earlier today after the House originally rejected the bill.

“Senator Stedman is correct in his assessment of this potential $20 billion subsidy by Alaska of the collapsed Canadian gas markets. Governor Parnell’s support of this subsidy is indicative of his ‘AGIA at all costs’ position.”

The primary benefit of a gas pipeline to Alaskans, other than providing access to affordable energy for in-state use and industrial use, is that taxes and royalties from gas sales will offset those from declining oil production.