Economy

April 15, 2011

BP promises investment in Alaska if oil tax break passes

BP's top Alaska official seconded the earlier pledge of Conoco Phillips to invest $5 billion on the North Slope if the governor's oil tax cuts pass, then promised even more but said he couldn't be specific. The question of what the major oil companies will do in return for billions of dollars in tax savings has been one of the critical issues hanging up Gov. Sean Parnell's efforts to reduce state taxes when oil prices are high.

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