Letter: Two-thirds of oil funds is hardly a ‘giveaway’

Rep. Kerttula’s message (Compass, May 22) urging Alaskans to support the repeal of the More Alaska Production Act (MAP) is a blatant misrepresentation of this historic legislation. Claiming MAP “gives away” the state’s oil wealth is grossly misleading. Under MAP, Alaska captures 61 percent to 64 percent, almost two-thirds, of Alaska’s oil wealth.

By carefully easing the oil and gas industry’s tax burden, new investment will be encouraged to help stem the escalating decline in oil and gas production. 

Repealing MAP and going back to ACES all but guarantees continued declines in oil production, state revenue and public and private sector jobs for Alaskans. Without MAP, the state forecasts an $888 million revenue decline in just two years, with no end in sight. 

Before you sign a petition to repeal MAP, ask yourself who will pick up the tab for this revenue shortfall to pay for roads, schools and public safety. Rep. Kerttula has consistently opposed oil exploration in ANWR, so perhaps she is content with killing Alaska’s golden goose. 

— Rick Rogers