ACES: Is it Working? Senator Bill Wielechowski. March 2011 Shannyn Moore Show. In 4 years, ACES has generated about $11 billion more than ELF would have. Capital expenditures from 2001-2010. Put chart here from page 6 of the DOR report.
Shannyn Moore Show
Source: Revenue Source Books, Alaska Department of Revenue - Fall 2007, Fall 2008, Fall 2009 and Fall 2010
Source: Revenue Sources Book, Alaska Department of Revenue, Fall 2010
“The good news is we are seeing a lot of increase in oil exploration.”
– Karen Rehfeld, Director of the Governor’s Office of Management and Budget in testimony before House Finance Committee on January 19, 2011.
“Alaska is open for business and
a big incentive is the ACES legislation,"
Savant Alaska LLC, said.
Source: Article, Alaska Business Monthly, December 2009
From ConocoPhilips Consolidated Income Statements:
Alaska oil and gas production makes up about 12% of ConocoPhillips’ worldwide output. In the 1st quarter of this year, Alaska operations earned the company $240 million, or 29% of its worldwide exploration and production income.
In the second quarter, ConocoPhillips had $725 million in E&P worldwide earnings, more than 55% of that, $404 million, came from its Alaska business.