The following is a reprint of a press release as provided by Lauren Giliam, Thompson & Co. PR.
May 15, 2026 (Anchorage, Alaska)– The Alaska Oil and Gas Association (AOGA), Alaska Support Industry Alliance, Alaska Chamber of Commerce, and Resource Development Council for Alaska today raised serious concerns regarding the Senate Resources Committee substitute for SB 280, warning the legislation would now impose sweeping oil tax increases without meaningful economic analysis, public vetting, or a clear understanding of the consequences for Alaska’s economy, investment climate, and future energy development. The latest proposal adds a new 30-cent-per-barrel tax on every barrel of oil produced in Alaska and increases the minimum production tax by 50 percent.
What began as legislation intended to help advance a long-term gasline solution for Alaska has now been transformed into a major oil tax increase that risks undermining both current oil production and the very investment environment necessary to support a future gasline project.
“Alaska’s oil and gas industry makes investment decisions on projects that require billions of dollars in capital and development timelines measured in decades,” said Steve Wackowski, president and CEO of AOGA. “Rushed and unvetted changes to Alaska’s fiscal system create uncertainty that investors price directly into their decisions. Ironically, legislation now titled the ‘Supporting Alaska Gasline Act’ moves Alaska in the opposite direction by undermining the stable investment climate required to advance both a successful gasline project and future North Slope development.”
The organizations also expressed concern that the proposal follows the committee’s advancement of SB 227, legislation that would fundamentally restructure Alaska’s oil tax system. During testimony and fiscal analysis on SB 227, the Department of Revenue acknowledged that provisions under the legislation could render multiple North Slope fields uneconomic under certain price conditions.
“Advancing major structural tax changes without rigorous modeling, clearly defined policy goals, or a transparent public process is deeply concerning,” said Rebecca Logan, president and CEO of the Alaska Support Industry Alliance. “Thousands of Alaska jobs and small businesses depend on long-term investment certainty in the oil and gas industry.”
“Alaska’s economy depends on maintaining a competitive and stable investment environment,” said Kati Capozzi, president and CEO of the Alaska Chamber of Commerce. “Policies that increase uncertainty or discourage investment ultimately impact state revenues, private sector employment, and the broader business community across Alaska.”
“Investors across the nation and around the world are watching the conversations taking place in Alaska’s Legislature, and the signals sent today extend well beyond oil and gas,” said Connor Hajdukovich, executive director of the Resource Development Council for Alaska. “As Alaska begins to see renewed investment, major projects advancing, and the first projected turnaround in TAPS throughput in more than 20 years, pursuing significant changes to the state’s oil tax structure without a transparent process or proper analysis of the long-term risks creates uncertainty at precisely the wrong time.”
The organizations emphasized that if lawmakers want to pursue serious discussions regarding Alaska’s fiscal future, those conversations should begin with clearly articulated policy objectives, comprehensive economic modeling, and a transparent public process — not last-minute tax increases inserted into legislation originally intended to improve the economics of a future Alaska gasline project.
About the Alaska Oil and Gas Association
AOGA is a professional trade association whose mission is to foster the long-term viability of the oil and gas industry in Alaska for the benefit of all Alaskans.
About the Alaska Support Industry Alliance
The Alliance promotes responsible exploration, development and production of oil, gas and mineral resources for the benefit of all Alaskans. It represents more than 500 businesses who provide support to the oil and gas and mining industries.
About the Alaska Chamber
The Alaska Chamber is a non-profit founded in 1953 working to promote a positive business environment in Alaska. The Chamber is the voice of small and large business representing more than 700 businesses, manufacturers, and local chambers across Alaska. Our member companies employ more than 55,000 hard-working Alaskans. The Chamber advocates for a positive investment climate that provides certainty and stability for Alaska. More information about the organization is available at www.alaskachamber.com.
About the Resource Development Council for Alaska
RDC is an Alaskan nonprofit trade association comprised of individuals and companies from Alaska’s oil and gas, mining, forest products, tourism and fisheries industries. RDC’s membership includes Alaska Native Corporations, local communities, organized labor and industry support firms. RDC’s purpose is to encourage a strong, diversified private sector in Alaska and expand the state’s economic base through the responsible development of our natural resources.
