All I hear about is increasing oil production and lower oil taxes. Proposals seem to miss the desired goal. Pass a law setting current production as the base. For every 1 percent increase of the amount of oil delivered through TAPS, lower the taxes currently paid by 12 percent. Cap the decrease at 50 percent. That is it, plain and simple.
Oil companies can get up to a 50 percent reduction from whatever they currently have to pay, but if, and only if, they move more oil. Any reduction in revenue is offset by new production. Unless tax reductions are directly tied to increases in production, then the state is just reducing revenue for no gain.
— Steve Herschbach