ANCHORAGE, Alaska — The president of BP Exploration in Alaska asked contractors Thursday how bad things have to get before a tax change is made.
John Minge pointed to HB 110, Gov. Parnell’s tax reduction plan, as an obvious solution to lower oil taxes, but the bill likely won't pass this legislative session.
Minge says BP would likely increase investments in the state if the tax system changes.
He says the only way to get more oil in the pipeline is by encouraging development.
When asked why he's speaking out three days before the session ends, Minge said the debate will continue until something is done.
"We are in this for the long haul. If the bill doesn't change this session we absolutely believe a tax law change will occur in Alaska it's just a matter of when," Minge said.
Critics of the proposal say there isn't enough data to support the cuts.