BP starts developing Liberty oil field

Full story: Pasadena Star-News

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.
1 - 1 of 1 Comments Last updated Jul 15, 2008

Wasilla, 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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