The company that runs the trans-Alaska pipeline announced a 10% cut to North Slope oil production Friday, amid a global oversupply of crude caused by the COVID-19 pandemic.
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At low prices, North Slope production taxes could drop to zero
As oil continues to hover around $40 a barrel, Alaska is confronting a new reality: if prices stay this low, the state’s major North Slope producers might owe no production taxes at all in coming years.