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Governor calls special session on three issues
http://newsminer.com/view/full_story/18249864/article-Governor-calls-special-session-on-three-issues?instance=home_news_window_left_top_3

Gov. Sean Parnell is calling lawmakers back for a special session this week to deal with unresolved issues from the just-ended legislative session, including oil taxes.

Parnell issued a special session call shortly after the House and Senate adjourned their regular session early Monday. Also on the call are HB9, a bill meant to further advance an in-state natural gas pipeline project, and HB359, Parnell’s bill to strengthen penalties for people convicted of sex trafficking.

The special session is scheduled to start Wednesday.

Read more: Fairbanks Daily News-Miner - Governor calls special session on three issues

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I noticed the article in paper yesterday. From what I took of it all, this isn't what the oil industry wanted at all. The bill would give a tax reduction of 1/3 on new field development where the future is down the road; am I correct on this? They got Dem support though, and I really don't believe many ALaskans would support much more. They have been watching the tax reduction games for 25 years and have seen so many of our Republican Politicians sent off to the big house in oil industry corruption cases. People are sick of it to the point they don't want to give anything to the oil industry anymore.

Snow is finally starting to melt out our way, luv our summers.

An analysis by PFC Energy, a consulting firm that's been working with the Senate on the oil tax issue this session, found that total government take would be around 64-66 percent for new field production at various cost-to-produce scenarios at $120-a-barrel oil. Under the current tax structure, government take at the same price point and scenarios would be 77-78 percent.

The state take, meanwhile, would be 49 percent under the three scenarios at $120-oil under the new-field provision. Under the current tax structure, it would be 65-68 percent.

In the first paragraph I am assuming when they say “government” they are referring to both State and Federal? Why do they use $120 bbl? Also I will assume the percentages discussed are net numbers (after expenses)and they're are talking about splitting the profits. It's cheaper to do business in most foreign countries then to do business in AK.