That is a good report. Here is the direct link to the source rather than through some blog with ads.
http://www.commonwealthnorth.org/documents_cwnorth/Final%20OITS%20Report%203-15-11.pdf
That report highlights how the Tax enacted under Governor Palin is too high and needs to be reduced. On page 4:
Recommendations
1. Alaska’s current oil tax structure under Alaska’s Clear and Equitable Share must be made more competitive in order to encourage oil profits to be reinvested in Alaska. The progressivity tax should be reduced and/or capped.
2. Alaska should continue to encourage exploration for new oil reserves through tax credits and incentive programs.
3. The Governor and the Legislature must make oil production a matter of highest priority. The Legislature must pass revisions to ACES this year. If it takes a special session, hold one.
"Too high" is a relative term in this situation, because you are dealing with a changing market commodity from year to year (comparing 2007 to 2011), let alone day to day, week to week, month to month. Combined with the fact that the "SELLER" (State of Alaska) is trying to get the most (i.e. "Revenue" for what they own. Contrast that with the Federal Government (or any other state government) where they are actually "Taxing" something for which they DO NOT OWN!
We conservatives believe that the 'Government' does not OWN the right to our 'fruits and labor' (Liberals believe otherwise). So, in the respect that we are debating the degree of "Taxation" on OUR fruits and labor by the Government, in the case of Alaskan Oil, the State/Citizens are the "owners" of such oil, and the "Revenue" is the "Compensation" for the worth of that asset.
The State of Alaska needs to find a "competitive revenue formula" for the best compensation for their asset, that will get them the most for their asset while at the same time keeping their ASSET competitive in the market place for development.
That's why the Report says that Alaska, in considering a modified and more competitive "revenue formula" may need to give up some "Short Term Revenue" for "Long Term Development".