AK HCR19

Acknowledges lessons from the 2011 Norway Policy Tour and encourages Alaska to apply Norwegian oil and gas development practices to increase investment and oil production in the state.

Identifies key differences between Norway and Alaska including population (4.9 million vs. 710,000), oil and gas revenue dependence (26% vs. 90%), and employment in the sector (235,000 vs. 25,000).

Outlines Norwegian regulatory system elements that have attracted investment, including streamlined processes, state co-investment at 20 percent ownership, awarding licenses based on best production plans rather than highest bids, and stable tax and environmental regimes.

Directs the Alaska State Legislature to fully consider lessons from the Norway Policy Tour and apply elements with strong potential to improve Alaska's economic future.

Instructs the legislature to explore state co-investment in resource extraction, encourage Arctic investment conferences, and support state involvement in Arctic Council activities related to oil and gas development, spill response, and infrastructure investment.