Posted on 11/25/2006 12:10:34 AM PST by windchime
Special Report VIDEO regarding Democrat intentions to roll back subsidies to oil companies.
(Excerpt) Read more at foxnews.com ...
Not really. Those tax breaks were incentives to drill for oil here in the US instead of importing it. It's a lot cheaper to simply buy oil overseas and add a markup than to actually go out and drill for it.
It's a lot cheaper...and less risky!
I'll take my $100 check with pleasure.
We are willing to do the homework,but if some 'guru' wants to sort all this out in realworld terms, I'd be willing to hear it.
Give us the 3-sec. 'elevator pitch", then the 2-minute "drill" and finally the 5-minute "round-up" and some time for a few questions. Keep it as free of HateAmerica and HateGWB as well as "Cheney,Haliburton and the OilBarons" and "ShapeChangers FromOuterSpace" as possible and we'd be much obliged.
Some of the incentives provided for additions to refining capacity and for clean up in the event of spills. Some were provided under the 'American Jobs Creation Act'. Most of the energy tax breaks from the '2005 Energy Policy Act' went to nuclear, clean coal, wind, ethanol and other alternative energy sources instead of oil and gas.
The Clinton administration mistake that failed to include a trigger to eliminate tax breaks for Gulf of Mexico drilling if oil prices rose could provide the biggest savings.
The oil companies already pay about double the amount of what they earn in profit--in total taxes.
Yes, it is much, MUCH BETTER to send EVEN MORE billions to the 'nut case' Arab countries in the Middle East--than to drill for the oil here. (s/off) (rolling eyes)
I guess I will be able to take some solace in all of this while I'm rubbing my democrat acquaintence's noses in s#it when they can't afford $6.00 or so for a gallon gas. "Hey, you guys are in charge, how come we're paying so much for gas now?"
Who do the dimwits think are going to pay these add on taxes? "Higher prices, higher taxes, and more terror attacks." This will be the defeatocratic battle cry in 08.
So does the Fed Govt cut them a check to do this? Allowing someone to keep their own money rather then send it to the Govt is NOT a subsidy. A subsidy is when the Feds gives money from the Treasury TO a company. For example, we subsidies multi millionaire who happen to own farms. We actually give them money from the Fed Treasury. Allowing Oil Companies to not be taxes as much as they might be is NOT a "Subsidy"
So does the Fed Govt cut them a check to do this? Allowing someone to keep their own money rather then send it to the Govt is NOT a subsidy. A subsidy is when the Feds gives money from the Treasury TO a company. For example, we subsidies multi millionaire who happen to own farms. We actually give them money from the Fed Treasury. Allowing Oil Companies to not be taxes as much as they might be is NOT a "Subsidy"
They don't have a single proposal that will help consumers at the pump. They just want to increase government revenue.
Nope. Corporations do not pay tax, they collect tax. All corporate taxes are passed on to customer and all taxes are ultimately paid by the end consumer. That'd be you and me. This notion of so-called "corporate taxes" is yet another ponzi scheme perpetrated by the Leftists to pit one group of people against another in order to make the group they wish to demonize to "pay their fair share". It's very similar to the class warfare they constantly employ. If taxes are increased or "tax incentives" are removed, it will be reflected in the price of the product and will be paid by the end consumer.
Let the Market decide! It's none of Government's business.
I didn't think so, either, but the dems use the terms subsidy and tax break interchangeably in this report. They're playing Merriam-Webster to present an issue as they want it viewed.
Subsidy was a term used by Pelosi, Chris Van Hollen (D) Maryland and the reporter.
Too many here are making sensible observations. ;) The following statement makes no sense at all.
Pelosi says the following in the same breath:
"Moving toward energy independence by repealing subsidies for "big oil."
"And the filth are not going to squeeze us by raising oil prices-just kill us all in our own beds? But if the filth do raise oil prices, our choices are to pay the price, or perhaps grind our economy to a halt, or grind our economy to a halt if we do pay the price. "
There is a solution to all of this.
Tomorrow, go in front of the UN and declare that unless Iran terminates its nuclear ambitions in the next 30 days, they will become a non oil producing country on day 31.
Scare the crap out of the Europeans and the Chinese. Then for the next 30 days float a drilling bill in Congress and make the RATS say NO over and over.
On day 31, take out Irans capacity to produce oil. I will gladly pay the extra buck or two to know that we are a bit safer and it will force the world to look at energy alternatives.
I hate to agree with Pelosi and company, but I believe that the term subsidy is correct. The break stems from the fact that the oil companies are allowed to drill on federal lands. They pay royalties for drilling rights. Clinton (Yes, this was a Clinton program) tried to encourage oil companies to continue drilling for oil here in the US, back when oil prices were very low, and drilling in the US wasn't as profitable as obtaining oil overseas. The royalty payments were decreased or eliminated on a certain amount of oil. (not sure which) Now that the price of oil makes it profitable to drill in the US, the dems want to eliminate the royalty break or subsidies. I don't believe it has anything to do with taxes, which I know the oil companies still pay plenty of.
I don't know enough about oil economics to know how this all plays out, but to me it seems like changing the royalty structure now, after the companies have committed to drilling costs and resources is unjustified. Its like luring people to a community with very low tax rates, and then, once they have all moved in, raising them higher than the other communities in the area.
Note to economically illiterate Dems:
OIL COMPANIES DON'T PAY TAXES!
THE CONSUMERS DO!
All the Dems can do with this stupid policy is disincentivize companies from risking capital to explore for oil.
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