Initiative filed seeking $1 billion tax hike on oil industry

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A group of Alaskans has launched an effort to put a measure before voters asking them to increase taxes on the oil industry, as the governor moves to close the deficit with large cuts but no new taxes.

Oil companies and an industry trade group swiftly condemned the effort, saying it would lead to less investment and oil production in the North Slope oil patch.

“Vote Yes for Alaska’s Fair Share” registered as a campaign group with state regulators on Aug. 19. On Aug. 16, an initiative group applied with the Division of Elections so it can collect signatures in support of a two-page ballot proposal.

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