Oil Companies Testifying in Hearing on Proposed Tax Cuts

Associated Press

The major three oil companies operating in Alaska are scheduled to testify during legislative hearings on Gov. Sean Parnell’s plan to cut oil production taxes.

Parnell says his plan, which includes expanded tax credits, is a way to boost investment and create jobs. But he has called on the industry to testify about how the proposal would affect them.

Representatives of BP, ConocoPhillips and Exxon Mobil  are among those slated to testify before the House Resources Committee, which has been holding hearings this month on Parnell’s plan.

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