Governor signs oil revenue bill at Petro Star refinery last Monday – Alaska News

Governor signs oil revenue bill at Petro Star refinery last Monday

Bill Walker refused to talk about reelection prospects during his visit

 

Gov. Bill Walker and wife Donna made a visit home to Valdez earlier this week, meeting with community leaders, marching in Sunday’s Gold Rush Days parade – and a signing of Senate Bill 30.

Walker signed the bill into law Monday at the Petro Star Refinery. The legislation approves a four-year contract selling state royalty gas to Petro Star Inc and is expected to generate between $22 and $27 million in revenue to the state.

“With the decline of oil prices and production, it takes creative, out-of-the box thinking and teamwork to generate revenue,” Walker said Monday. “Because jobs in Alaska should go to Alaskans, my bill includes a local-hire provision.”

Doug Chapados, Petro Star Inc president and CEO, was also on hand at the signing, which took place at the company’s refinery on Dayville Rd. early Monday morning.

“This legislation is the result of the joint efforts by Petro Star Inc., ASRC and the State of Alaska, ensuring an RIK ( Royalty In Kind) crude supply even during declining TAPS throughput,” said Doug Chapados, PSI president and CEO. “Not only does this ensure a diverse and stable crude supply for the future, it also has the potential to generate tens of millions of additional dollars for the state over the next five years. I would like to thank state lawmakers as well as the governor for moving SB 30 forward.”

Late Saturday morning, Walker and the first lady met with Valdez media at the annex of the Valdez Museum and Historical Archive.

Steve Revis photo

Gov. Bill Walker at the Valdez Museum Annex Sunday morning. Walker,…

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