Tag Archives: dan fagan

Fagan grills Walker over support for repeal of oil taxes

On Monday independent governor Bill Walker was on the Dan Fagan/Glen Biegel show, where he talked about his support for repealing SB 21. Fagan, who can be relentless, drilled down on Walker’s support for repeal. Fagan focused on the fact that since the current tax structure has been in place, oil production has ceased to decline. Last December, the state estimated a 4.4 percent decline for this year. That didn’t happen. For fiscal year 2014, which ended June 30, oil production averaged 530,939 barrels per day, roughly the same amount of oil produced as the year before. Production decline averaged about 5 percent between 2008 to 2011, and slipped 8 percent between 2012 and 2013.  Until this year, the last year the state didn’t see a decline in production was in 2001. Those who advocate for repeal say that the flattening is the result of geophysics, not taxes,. Some of them say that the oil companies are increasing production temporarily to make it seem as the new regime is working. Walker, who is usually not at a loss for words, stumbled his way through the interview and only alluded to the latter. Listen to the clip here.