Adam Prestidge
140:17 - 141:09
“that price cap, that commitment that we can get this project done with a cap on the price at $16, is an extraordinary commitment. It is a commitment that we're able to make on the basis of how 381 was put together. If there were a significant change to the tax structure, for example, going from 2 mils to 3 mils would be a 50% increase on the tax burden as set out in HB 381. That would really put in— that would really challenge our ability to maintain that $16 price cap.”
- Speaker
- Adam Prestidge
- Timestamp
- 140:17 – 141:09
- Community
- Alaska News
- Location
- Alaska
- Captured at
From the transcript
It's a somewhat complicated piece of legislation with numerous different economic points One of those key economic points that we'll talk about shortly in this presentation is that Glenfarm has made the commitment to cap the price of gas at $16, which inflates over, over time, as is customary. But that price cap, that commitment that we can get this project done with a cap on the price at $16, is an extraordinary commitment. It is a commitment that we're able to make on the basis of how 381 was put together. If there were a significant change to the tax structure, for example, going from 2 mils to 3 mils would be a 50% increase on the tax burden as set out in HB 381. That would really put in— that would really challenge our ability to maintain that $16 price cap.
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