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The Center for American Progress has a nearly perfect record in its pronouncements about the tax treatment of the oil and gas industry. Without exception, they are always wrong.

The extraordinary increase in production from the U.S. oil and natural gas industry has been one of the biggest stories of the last few years – and about the only consistently good economic news the nation has seen since the bottom nearly fell out of the economy in 2008.

Though Alaska has long been considered a leading energy-producer, it hasn’t been regarded as a key part of the current, largely shale-driven supply revolution that is creating a new era of American energy abundance. That could soon change.

One of the more overlooked aspects of our industry is that oil and gas companies like ExxonMobil are not just big contributors to the economy, we are also really big taxpayers.