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JUNEAU, Alaska (AP) - Three major oil companies and state officials reached agreement Tuesday on a tax proposal aimed at bringing a long-planned $20 billion gas pipeline from Alaska's North Slope to the Midwest closer to construction.
The accord on a tax and royalties structure for developing Alaska's natural gas will hinge on the Legislature passing a new state oil production tax.
Alaska Gov. Frank Murkowski on Tuesday introduced a bill that calls for a 20 percent tax of oil companies' net profits in Alaska plus a 20 percent tax credit for reinvestment in Alaska.
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