 April 23, 2002
"This is an important step to help make a natural gas pipeline for Alaska a reality," said Murkowski. "This tax proposal would provide a 'safety net' for construction of the pipeline. The credit would kick in only if the price of natural gas drops below $3.25 per million btu (or per thousand cubic feet), and would stay in place only until gasline construction costs are recovered. And unlike the existing gas credits, this proposal has a payback provision which never expires or disappears until all credit is paid back." "Alaskans are ready to do their part to protect America's energy security. This provision helps ensure the economic viability of the gas line project. Without these safeguards, Alaska natural gas will stay in the ground for a very long time. "This truly is a win-win situation for all involved," Murkowski said. "The nation will benefit because the increased supplies of this clean burning fuel will provide an affordable energy product for American families and allow for expanded uses of new technology at the same time. Alaskan communities will benefit from the construction jobs and access to natural gas that will fuel their future energy needs. And in the end, because of the payback provision, it won't cost the federal government a penny." "Increased domestic production must be a part of the Senate energy bill if it's ever going to be balanced. Now, more than ever, we must look here at home for our energy solutions. American energy solutions are free from the bloodshed of the Middle East or the chaos of Central America. They're stable, reliable, and help put Americans to work," Murkowski said.
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