[Al B.]

I recall some posts from you not too long ago remarking about the ridiculously high prices being paid for ANS crude by West Coast refineries in 2011. At the time you were wondering whether the anomalous situation would hold. :)

At any rate, if you take CP's consolidated Alaska revenues for 2011 ($8,142K) and their taxes paid in Alaska ($2,721K), it's still only 33.4%.

[thackney]

And you are still not counting the royalties. You also seem to imply that 33.4% state taxes is a good number. Do you know any other industry or any other state with such a high figure? How would your business do if you paid 33.4% to the state before you had to jump into federal taxes?

[thackney]

I recall some posts from you not too long ago remarking about the ridiculously high prices being paid for ANS crude by West Coast refineries in 2011. At the time you were wondering whether the anomalous situation would hold.

It still is dang high. $121.39 is yesterday's cash price.

http://online.wsj.com/mdc/public/page/2_3023-cashprices.html?mod=topnav_2_3000

The differential to WTI is not going to hold. $20 differential for light sweet from Cushing, OK to Gulf Coast. We are going to see more than one additional pipeline headed towards the Gulf area refineries.