High gasoline prices may boost a Palin presidential run

Texas for Sarah Palin ^ | March 8, 2011 at 10:30 PM CST | Josh Painter

[Dead Corpse]

ACES was both more and less than that to my understanding. If I’m wrong, please show me where. Links preferable.

[moose-matson]

Yes, excessive taxes...drove BP and others away...said it took taxes and fees to 75% of revenues....75%....

[thackney]

laska’s Clear and Equitable Share (ACES) Proposal
http://lba.legis.state.ak.us/aces/doc_log/2007-10-16_leg_finance_review_of_governors_aces_bill.pdf
A Brief Review of the Governor’s Proposed Changes to Oil Taxation (Gov. Palin, not current)

The ACES bill addresses four major items:
1. Base tax rate
2. A surcharge that increases revenue at higher oil prices
3. Tax credits, and
4. Information provided to the Department of Revenue.

ACES raises the base tax rate from 22.5% to 25% of the profit on oil production. ACES also increases the minimum tax to 10% of the gross value of oil production (rather than profit) from the Prudhoe Bay and Kuparuk fields.

A surcharge adds 0.25% to the base tax rate when the profit
per barrel exceeds $40.

A discussion of the fiscal impact of changes to tax credits would require knowing the amount (and type) of eligible credits that might be claimed. Legislative Finance does not have sufficient information to make projections. It should be clear, however, that reducing credits will increase revenue by more than indicated by a comparison of tax rates.

ACES includes several significant changes to the information that producers must provide to the state. The bill also includes several technical and conforming changes, and addresses unscheduled production interruption costs and auditing requirements of the Department.

[thackney]

This walks through a breakdown of numbers:

Alaska’s Oil and Gas Taxes
The 2006 Reform, 2007 Reform, and Beyond
http://lba.legis.state.ak.us/fiscal/doc_log/2008-12-09_dan_dickinson_presentation.pdf
Legislative Budget and Audit Committee
Alaska State Legislature

Note the title on page 13:

How did we get here –4 fold increase in tax

[Matchett-PI]

“I do know that immigration and energy independence are winnable issues to the rest of the country - yeah it will get the leftist and enviro nuts in a uproar but it will drive many conservatives and independents out to vote” ~ Bigtigermike

And the two biggest stalwarts on practical solutions to energy independence and illegal immigration are Sarah Palin and Jan Brewer.

I think this is pretty interesting on the issue of jobs vs high gasoline prices and presidential relection chances:

“..there is a statistically significant correlation between what Americans pay at the pump and a president’s public standing, based on a RealClearPolitics study of the average gasoline price, adjusted for inflation, and Gallup presidential approval ratings since 1976.

In fact, gas prices correlate far more with a president’s standing than the unemployment rate (for wonks, -.53 compared to -.14). For the non-wonks, that’s a strong indication that gas prices matter more politically than unemployment.

Excerpted from:

Real Clear Politics
March 9, 2011
Could Gas Prices Sink Obama’s Reelection?
http://www.realclearpolitics.com/articles/2011/03/09/could_gas_prices_sink_obamas_reelection_2012_study_president_approval_gas_price_109157.html

[Dead Corpse]

BS. 25% cap with a reduction to 10% in lean years.

http://online.wsj.com/article/SB122057543526201877.html

Sounds like it corrected the former governors screw up.

[moose-matson]

Gee. You forgot to add that the windfall tax was layered on top of existing taxes, fees and the royalty charges that were alreadyb in place...