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Is The Oil Industry Really Subsidized?
Oilprice.com ^ | 13-11-2015 | pond

Posted on 11/13/2015 9:15:26 AM PST by bananaman22

sub•si•dy: (s?b′s?-d?) n. pl. sub•si•dies 1. Monetary assistance granted by a government to a person or group in support of an enterprise regarded as being in the public interest. 2. Financial assistance given by one person or government to another.

The oil and gas industry is suffering through a severe and prolonged slump due to collapsed oil prices resulting in the loss of hundreds of thousands of jobs worldwide and the destruction of billions, if not trillions, of dollars in shareholder value. Governments in oil-producing jurisdictions, including Alberta, find themselves in severe financial difficulty because cash flow generated by first natural gas and now oil production has plummeted. This includes royalties, corporate taxes, payroll taxes and the sale of future development rights.

Alberta is expected to amass massive deficits until oil prices recover. The collapse in oil prices allegedly drove the entire Canadian economy into recession in the first half of the year. Every oil producing jurisdiction in the world depending upon this resource to fund government operations is struggling.

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy
KEYWORDS: energy; markets; methane; oil; oilmajor; opec; petroleum; subsidy; taxes

1 posted on 11/13/2015 9:15:26 AM PST by bananaman22
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To: bananaman22

The “subsidies” most oil-hating liberals are talking about are tax deductions for expenses that EVERY company takes but for some reason the oil industry isn’t.


2 posted on 11/13/2015 9:20:22 AM PST by Blood of Tyrants (There's a right to gay marriage in the Constitution but there is no right of an unborn baby to life.)
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To: Blood of Tyrants

The “subsidies” that liberals love are for wind, solar and other green energy frauds.

Friggin hypocrites.


3 posted on 11/13/2015 9:24:13 AM PST by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: Blood of Tyrants

Where is the graphic showing the oil company’s profit vs the taxes taken?


4 posted on 11/13/2015 9:43:05 AM PST by dhs12345
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To: bananaman22

Anything not confiscated by the gubmint is a subsidy.


5 posted on 11/13/2015 9:55:52 AM PST by forgotten man
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To: bananaman22

Far more taxes are paid to government than anything returned to them.

Governments are subsidized by oil companies.


6 posted on 11/13/2015 10:08:44 AM PST by thackney (life is fragile, handle with prayer)
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To: thackney

No. Oil & Gas companies are NOT subsidized. I know, as I have over 40 years in the Industry. They ARE allowed to deduct the costs of exploration and production, just like any other farming, mining or manufacturing company.


7 posted on 11/13/2015 10:40:52 AM PST by 2harddrive
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To: bananaman22

Higgins: No. It’s simple economics. Today it’s oil, right? In ten or fifteen years, food. Plutonium. And maybe even sooner. Now, what do you think the people are gonna want us to do then?

Turner: Ask them.

Higgins: Not now — then! Ask ‘em when they’re running out. Ask ‘em when there’s no heat in their homes and they’re cold. Ask ‘em when their engines stop. Ask ‘em when people who have never known hunger start going hungry. You wanna know something? They won’t want us to ask ‘em. They’ll just want us to get it for ‘em!

People can afford to be fussy and fastidious when there’s gas at the pumps.

When the gas runs out, if it ever does, they won’t give a sh*t where it comes from.


8 posted on 11/13/2015 11:48:14 AM PST by Jack Hammer
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