Former Alaska Gov. Sarah Palin said the oil tax she promoted while in office was “fair and commonsense” even though the system that has now been scrapped by state lawmakers and her successor, fellow Republican Sean Parnell.
Concerning Parnell’s about face on the state’s oil tax, Palin said Wednesday on Anchorage radio station KWHL:
“Well, bless his heart. Remember that Sean Parnell came from the oil industry. He was, you know, an employee of ConocoPhillips … lobbying for the cause there. So perhaps that’s engrained in him.”
Parnell was director of state government relations for ConocoPhillips in Alaska from 2000 to 2003.
He later served as Palin’s lieutenant governor when both were elected in 2006.
He became governor after she resigned during her first term in 2009.
Palin was the Republican nominee for vice president on the losing 2008 ticked with Arizona John McCain.
Parnell once supported the tax system Palin called Alaska’s Clear and Equitable Share, or ACES.
But soon after his election in 2010, he began proposing changes to help increase production. Last year the legislature adopted an entirely new tax scheme.
Palin’s ACES granted oil companies up-front tax credits in return for a share profits.
“But companies complained that the progressive surcharge that was a feature of the system ate too deeply into profits, discouraging new investment,” the Washington Post said.