October 12, 2008
Huntsville Times (AL) Bemoans State's Position in Tax Foundation's State Business Tax Climate Index
"Higher Taxes and Bans on Drilling Hurt Everyone"
By Harry McCaskill
Alabama's taxes on natural gas are already the second highest in the nation. Higher taxes on offshore production would make it difficult for Alabama to compete for drilling projects—a big mistake at a time when more than 80 percent of Americans support efforts to ramp up offshore production. Remember, the Yellowhammer State isn't the only game in town when it comes to offshore energy.
According to the Tax Foundation, Alabama ranks behind nearby Gulf States like Florida, Mississippi, and Louisiana in terms of corporate taxes and overall business climate. Imposing new energy taxes on natural gas production would make us even less competitive.
