NPR-A oil production will hit state budget by $250 million/year
Alaskans have been heartened by discovery of more oil on the North Slope but new projects now planned in the National Petroleum Reserve-Alaska will wind up costing the state about $250 million a year for the first eight years projects are producing and $1.8 billion over the first 10 years. This is according to an analysis by the state Departments of Revenue and Natural Resources given to state legislative committees Dec. 2. The loss occurs because of the structure of…