ballot measure 1

This election, Alaskans are considering a proposed tax increase on oil production through Ballot Measure 1. Proponents argue that the measure can provide a needed source of revenue as the state faces large deficits and empty bank accounts. Opponents argue that Alaska’s oil industry is under enough pressure from rising costs, low prices, and soft global demand.

More than 250 participants from around the state and as far away as New Zealand tuned in to the Alaska Common Ground Forum on Ballot Measure 1, held virtually on October 6. Ralph Townsend, Director for the University of Alaska Anchorage Institute of Social and Economic Research (ISER), provided a short overview of the proposed oil tax initiative before proponents and opponents presented their arguments. In Townsend’s brief summary, he presented highlights of the current production tax, proposed changes, and Department of Revenue estimates of its impacts.

Would you like more information about Ballot Measure 1? If so, are not alone. The “Fair Share Act”, the initiative to change the State of Alaska’s oil production (severance) tax, has many Alaskans puzzled about how oil taxes work now, how the initiative would change how they work, and what issues to think about before voting. The Anchorage Association for Energy Economists (AAEE) and the University of Alaska Anchorage Institute of Social and Economic Research (ISER), invite you to participate in a live Zoom forum on the ballot measure from 12:00 noon – 1:30 pm, Monday October 12.