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.
Ketchikan, AK - USA
About: Samuel Bergeron is a life-long Alaskan and a future local
candidate for office here in Ketchikan.
Especially Rural Areas, Can't Afford to Wait on Oil Tax by
Senator John Cowdery
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