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.
- “This’ll be a full investigation done by the NTSB," said Mike Hodges, the investigator in charge on this crash for the National Transportation Safety Board.
- The House and Senate will likely form a conference committee to resolve the differences between the chambers’ different versions of the bill.
- British Columbia’s top auditor says the province has failed to protect the environment from mines and mineral exploration projects.
- “Companies are looking to make investments, they need some degree of certainty, and there is nothing but uncertainty right now in the Alaska oil and gas industry,” an AOGA representative said.