Alaska lawmakers on Sunday gave final approval to a bill backed by top North Slope producers...
Alaska lawmakers on Sunday gave final approval to a bill backed by top North Slope producers Conoco (COP), BP and Exxon (XOM) to slash state oil production taxes, doing away with a methodology that increases tax rates as oil prices rise. Supporters say the cut will set the stage for future growth as Alaska tries to reverse declining oil output; critics say it will severely damage the state's finances.
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