BP starts developing Liberty oil field

BP starts developing Liberty oil field

There are 1 comment on the Pasadena Star-News story from Jul 15, 2008, titled BP starts developing Liberty oil field. In it, Pasadena Star-News reports that:

BP PLC has started drilling the world's longest wells to a hard-to-reach offshore reservoir in the Beaufort Sea, the company said Monday.

Join the discussion below, or Read more at Pasadena Star-News.

Syrin

Fort Richardson, AK

#1 Jul 15, 2008
Suttles said the location in federal waters offers a financial advantage, now that Alaska has increased its oil-production tax rates.

"If this were on state land...it's doubtful we would have been able to move it forward with the current tax rules," he said. That is because of the incrementally increasing tax rates, rising as oil prices rise, that are incorporated into the year-old state tax law, he said.

All media seems to have left this potion of the statement out. Why?

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