The State Supreme Court reaffirmed on Wednesday that the Trans-Alaska Pipeline is worth $10 billion.
Oil companies had argued that the pipeline should only be assessed at $850 million, and they based that number on the tariffs collected. At that lower value, the property taxes they pay to cities like Fairbanks and Valdez would be dramatically reduced.
The Supreme Court found that tariff income isn’t the only value derived from the pipeline. Its worth also comes from its ability to transport the billions of barrels of oil from the North Slope.
While the decision only concerns the 2006 assessment, oil companies have made similar arguments over the pipeline’s for other tax years.
- September 3, 2015- "I say bravo for the trapper. The state won’t do what’s right. He should do what’s right," says Pete Buist, spokesman for the Alaska Trappers Association.
- September 3, 2015- On Twitter, over email lists, and in wry internal reports, journalists complained about a lack of legitimate opportunities to question the administration’s policies.
- September 3, 2015- As a regional hub for 10 remote villages about 30 miles above the Arctic Circle, Kotzebue is where Obama came closest to actually seeing the communities he’s touted throughout his trip as being imperiled by climate change.
- September 3, 2015- Alaskans of all stripes came out this week for a chance to shake hands with President Barack Obama, or at least glimpse his motorcade, but one person not on hand for the big visit was Don Young, Alaska’s only member of the U.S. House of representatives.