Alaska Gov. Sean Parnell (R) is putting forth a plan to overhaul the state's oil tax structure.

The governor said the proposal, expected to be announced today, is simpler and aimed at making Alaska more competitive while encouraging new production.

The plan does away with the progressive surcharge that companies have said discourages new investment. The proposal also focuses incentives on companies that produce oil from new fields on the North Slope.

The governor's proposal will build on the ideas that the administration saw as an emerging consensus near the end of last session, including promoting production from new fields while also addressing the tax level when oil prices are high (AP/Fuel Fix, Jan. 16). -- KJ