Juneau Report 1:1 ConocoPhillips Alaska Scott Jepsen/Willow Project

There is an oil tax ballot initiative, and oil tax credit bill and the quintessentially Alaskan conversation of what is Our Fair Share.  ConocoPhillips Alaska holds the legacy of our state's oil production since the drilling of our first exploratory wells. We sat down with them to find out their perspective on oil taxes and exploration in Alaska.

Willow sits on federal land in the National Petroleum Reserve which means that half the money the US government receives will go to the State of Alaska to address the needs of North Slope communities.

Juneau Report 1:1 ConocoPhillips Alaska Scott Jepsen/We Mess With Texas

THERE ARE SPECIAL CHALLENGES TO EXTRACTING OIL IN A TERRAIN AS DIFFICULT AS ALASKA'S NORTH SLOPE. PRODUCERS HAVE TO COMPENSATE FOR THINGS YOU WON'T FIND IN THE FRACKING FIELDS - LIKE WINTER ONLY EXPLORATION, HAVING TO REBUILD MULTI-MILLION DOLLAR ICE ROADS EVERY YEAR, EXCEPTIONALLY LIMITED INFRASTRUCTURE, AND SOME OF THE MOST STRINGENT ENVIRONMENTAL REGULATIONS ON THE PLANET.

WE SAT DOWN IN AN EXCLUSIVE ONE-ON-ONE WITH CONOCO PHILLIPS ALASKA TO TALK ABOUT PRODUCTION HURDLES YOU WON'T FIND IN TEXAS. TEXAS HAS ALWAYS BEEN OUR COMPETITIVE OLDER LITTLE SISTER. ACCORDING TO THE TEXAS OIL & GAS ASSOCIATION - THE LONE STAR STATE SET A NEW RECORD LAST YEAR - COLLECTING $16.3 BILLION IN ROYALTIES AND TAXES - AFTER THE LARGEST PRODUCTION YEAR IN TEXAS HISTORY.