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Alaska’s Oil Giants Face Tax Shift | Anchorage News

Alaska’s Oil Giants Face Tax Shift | Anchorage News

Published 4 weeks, 2 days ago
Description

Alaska’s lawmakers are locked in a fierce debate over whether to tax privately held oil and gas companies like Hilcorp and Glenfarne — currently flying under the radar because their profits escape state corporate income tax. With oil and gas fueling nearly $2 billion in annual revenue, critics argue these companies, which benefit from state services like roads and education, should pay their fair share through profit taxes — especially as they eye massive property tax breaks for a new pipeline. The push is on to close the loophole and ensure Alaska’s biggest energy players contribute to the very infrastructure that supports their operations.

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