Tax Act and The Quiet Oil Deal

Did you know: The Tax Cuts and Jobs Act allows drilling in the untouched Alaskan tundra. This item is tucked into the Senate tax bill and has little to do with taxes but it avoids a direct up-or-down vote by clinging on.

ANWR, a swath of tundra on the northern Alaska coast, is home to polar bears, caribou, moose and hundreds of species of migratory birds. The landscape hasn’t been touched in thousands of years.

No one will be more affected by the opening of ANWR than Alaska’s indigenous people. The discovery of oil or gas in the area will generate money to the tribes that live on Alaska’s North Slope. Soon, energy companies will be able to search for—and extract—oil and gas from the frozen tundra. If oil is drilled, the Alaskan indigenous tribes in that area will be paid.

But if a major oil spill or gas leak—were to occur in the area, it could ruin their homeland.

So maybe you are ok with drilling in the reserve. Maybe, the way it was snuck in don’t alarm you. Maybe the risk of a disaster is something you can live with. Well, here is one more thought to chew on.

In the “The Tax Cuts and Jobs Act” 2018 fiscal year budget says that allowing oil and gas production in the coastal plain, will generate $1.8 billion over 10 years. To put that in prospective, Energy Transfer Partners CEO Kelcy Warren made $2.7 billion last year even with the NoDapl movement. 1 year, 2.7 – tax deal, 1.8 over 10 years. Selling the planet. Who thought that was a deal?

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