JUNEAU-- Exxon Mobil Corp. would be obligated to reveal its profits from oil produced in Alaska under a bill proposed by state lawmakers.
Proposed by Democratic Anchorage Reps. Les Gara and Pete Petersen, the Truth in Alaska Oil Companies Act, would require any business receiving more than $50 million in oil tax credits or producing more than 75,000 barrels of oil in Alaska daily to disclose the profits made in the state.
Gara says Exxon is the only oil company operating in Alaska that does not disclose its profits in the state. Gara says this allows Exxon to mislead lawmakers about the profitability of its operations.
A representative from Exxon was not immediately available for comment.