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.
- As a child in Iran, Parisa Elahian was told by school officials she wasn’t equal with other children. "They called us dirty, so they had to separate us from the other kids, so I was in the corner of the class," Elahian said.
- This weekend, crowds showed up in the pouring rain to do their holiday shopping at Juneau’s Public Market, but it wasn’t the only place in town to buy local goods.
- Southeast Alaska biologists had a rare opportunity to watch the hatching of thousands of market squid eggs.
- Diverse commercial markets for the snake-like creature have opened up over the past few years but catching them can be tricky.