01/27/1995 03:30 PM Senate RES

 SRES - 1/27/95                                                                
                                                                               
                  SJR  3 EXPORT OF ALASKA OIL                                 
                                                                               
  Number 407                                                                  
                                                                              
  SENATOR LEMAN announced SJR 3 to be up for consideration.                   
                                                                               
 SENATOR ELLIS, sponsor, said it is important to renew support of              
 SJR 3 with our delegation in Congress at this time because they are           
 now in the majority.  He said some of the numbers in the resolution           
 need to be amended to contain the very best information available             
 to send to Congress.                                                          
                                                                               
 Senator Ellis noted that ARCO had just changed its stance to one of           
 support for SJR 3.  He noted there was a position paper from the              
 Department of Commerce in strong support of SJR 3.                            
                                                                               
 Number 443                                                                    
                                                                               
 CHUCK LOGSDON, Economist, Department of Revenue, supported SJR 3.             
 This would not only increase state oil revenues, but would make               
 further investment in our oil fields more attractive.  He said the            
 window of opportunity provided with lifting the export ban is                 
 closing as production continues to go down.  There are                        
 approximately 18 months after which the export ban will not                   
 necessarily increase our revenues.                                            
                                                                               
 Number 509                                                                    
                                                                               
 COMMISSIONER HENSLEY, Department of Commerce and Economic                     
 Development, said Alaska's oil will become increasingly important             
 as production in the lower 48 declines.  He supported passage of              
 SJR 3.  He said the ban precludes the North Slope oil from being              
 sold into the highest value markets, particularly in Japan and                
 Korea.  He said he was in Washington when this ban was proposed               
 which was in another age and another time.