SitNews - Stories in the News - Ketchikan, Alaska



Why accept anything less than half of the oil profits?
By Samuel Bergeron


July 11, 2006

When big oil says a 22.8% tax rate on the profits (after expenses), with a 20% tax credit on oil production is too high, I think they must be delusional to believe that they should get 67.2% of the profits, plus a tax break for oil you and I own. If you were to break this down into a microcosm imagine that you yourself owned an oil reserve and some producer offered you this deal, wouldn't you think you could do better elsewhere? I would.

When deep thinkers like John Cowdery and Ben Stevens say we need a tax base that the oil companies can live with (below 22.8% of the profits), we need to ask ourselves how many of our billions of oil dollars can we live without to assuage the concerns of John and his brethren at BP.

What will it take to maintain the historic high income levels of big oil? It will take more sweetheart deals like what Frank Murkowski and his band of future oil lobbyists in the legislature can concoct at your and my expense. I feel we should be getting no less that half of the net profits of this finite precious resource, or no deal.

Samuel Bergeron
Ketchikan, AK - USA


About: Samuel Bergeron is a life-long Alaskan and a future local candidate for office here in Ketchikan.


Related Viewpoint:

letter State, Especially Rural Areas, Can't Afford to Wait on Oil Tax by Senator John Cowdery



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and do not necessarily reflect the opinions of Sitnews.


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