Oil Giants Demand $2 Billion Tax Cut To Drill In Alaska

[Bronco_Beerslug]

Give it to them right.... Republicans?

-----------------------------------------------------------
Unsatisfied By Record Profits, Oil Giants Demand $2 Billion Tax Cut To Drill In Alaska (http://thinkprogress.org/green/2012/03/12/442486/unsatisfied-by-record-profits-oil-giants-demand-2-billion-tax-cut-to-drill-in-alaska/)

By Brad Johnson on Mar 12, 2012 at 11:36 am

As Alaska’s North Slope oil fields get tapped out, oil companies are demanding a tax cut of more than $2 billion a year (http://www.adn.com/2012/03/11/2365508/oil-giants-tax-changes-will-lure.html). Last week, executives from BP and Conoco Phillips told the state senate that their companies would only increase investment in drilling if state taxes on their companies are gutted. They supported the language of House Bill 110, which would cut over $2 billion a year in oil company taxes as oil prices soar:

BP Exploration (Alaska) Inc. and Conoco Phillips Alaska told the Senate Resources Committee there are projects the companies could do on Alaska’s North Slope to increase oil production, but those projects will have trouble attracting capital investment because of high state taxes. . . . Conoco Phillips spokeswoman Natalie Lowman said the company “has committed to spending $5 billion in the next 3 to 5 years jointly with our co-venturers if there is a tax change similar to what HB 110 proposed.”

BP and Conoco Phillips testified against SB 192, which would only cut oil company taxes by $200 million a year.

Gov. Sean Parnell (R-AK), formerly the director of government relations for ConocoPhillips, supports House Bill 110.

[ghwk]

WAAH! WAAH! Pay me to drill or I'll take my stuff and go home! Mut her Fuc kers. We should lease it to the Arabs then we'll see who's willing to drill.

[Dukes]

That oil wouldn't be used in America anyway, so **** 'em

[cutthemdown]

WAAH! WAAH! Pay me to drill or I'll take my stuff and go home! Mut her Fuc kers. We should lease it to the Arabs then we'll see who's willing to drill.

actually one reason places like Saudi Arabia so flush with oil is its so easy to get. No one in the world knows how to drill like Americans do. Well maybe some but not the Arabs.

You don't always find oil. You have to give tax breaks for them to want to go after it.

[Bronco_Beerslug]

actually one reason places like Saudi Arabia so flush with oil is its so easy to get. No one in the world knows how to drill like Americans do. Well maybe some but not the Arabs.

You don't always find oil. You have to give tax breaks for them to want to go after it.
Oh BS. Oil is over $100 a barrel and you want to give these multi-billion dollar companies more of our taxpayer money?

[Odysseus]

http://www.illuminatirex.com/oil-iran-and-the-us-dollar/

Oil is like gold when it comes to wars fought and empires ruined.

[alkemical]

Hey, the USA can't pay it's bills. Just wait and force it to be privatized.

We* wrote the rule book on that ****.

[Pony Boy]

Alaska’s Oil Investment Tax Structure
Establishing a Competitive Alaska

Alaska’s economy is built primarily on oil production. There is a deepening concern by Alaskans and the private sector regarding the oil industry’s ability to stem oil production declines and retain jobs. One-third of Alaska’s jobs are related to oil development and production in Alaska; including not only jobs within the petroleum sector, but also jobs throughout State and local government, finance, infrastructure, trade, construction and self-employed sectors. Further, 89% of the State’s general fund unrestricted revenue in 2010 was derived from revenues from oil.

Since Alaska’s Clear and Equitable Share (ACES) was first proposed the producers have made it clear that the current state oil tax structure is one of the main contributing factors to have a chilling effect on the decisions of explorers, producers and investors to make commitments on the North Slope.

Recommendations
1. Alaska’s current oil tax structure under Alaska’s Clear and Equitable Share must be made more competitive in order to encourage oil profits to be reinvested in Alaska. The progressivity tax should be reduced and/or capped.

2. Alaska should continue to encourage exploration for new oil reserves through tax credits and incentive programs.

3. The Governor and the Legislature must make oil production a matter of highest priority. The Legislature must pass revisions to ACES this year. If it takes a special session, hold one.

http://www.aoga.org/wp-content/uploads/2011/04/Final-OITS-Report-3-15-11.pdf

[Pony Boy]

Oh BS. Oil is over $100 a barrel and you want to give these multi-billion dollar companies more of our taxpayer money?

Isn't it ironic that you piss and moan about tax breaks for oil company and the price of a barrel of oil when you don't have a problem bailing out the auto companies with tax payer dollars? Then you go down to the auto dealership and pay twice the value of what an automobile is really worth and smile when they offer you a 60 to 72 month loan so you can afford the overpriced piece of crap.

[barryr]

Apple makes how much money in this country, and worse ships how many jobs out of the country? Where is the liberal outrage? Oh, because Apple routinely gives money to the DNC, they are off limits and are doing great for this country? The hypocrisy never ends.

[peacepipe]

Isn't it ironic that you piss and moan about tax breaks for oil company and the price of a barrel of oil when you don't have a problem bailing out the auto companies with tax payer dollars? Then you go down to the auto dealership and pay twice the value of what an automobile is really worth and smile when they offer you a 60 to 72 month loan so you can afford the overpriced piece of crap.

that's the banks not the dealership.

[ghwk]

Apple makes how much money in this country, and worse ships how many jobs out of the country? Where is the liberal outrage? Oh, because Apple routinely gives money to the DNC, they are off limits and are doing great for this country? The hypocrisy never ends.

Neither does your predicitability. Apple giving money to the DNC has nothing to do with this. You do realize Big Oil gives to the RNC right?

[DenverBrit]

actually one reason places like Saudi Arabia so flush with oil is its so easy to get. No one in the world knows how to drill like Americans do. Well maybe some but not the Arabs.

You don't always find oil. You have to give tax breaks for them to want to go after it.

The US now a net exporter, yet we still give tax incentives. It's time to stop:

Looking at your heating bills or gas prices, you may find it surprising that the United States is enjoying a mini oil boom. It's producing more crude oil and, for the first time in decades, has become a net exporter of petroleum products such as jet fuel, heating oil and gasoline.
http://www.usatoday.com/money/industries/energy/story/2011-12-16/us-oil-boom/52053236/1

[DenverBrit]

Apple makes how much money in this country, and worse ships how many jobs out of the country? Where is the liberal outrage? Oh, because Apple routinely gives money to the DNC, they are off limits and are doing great for this country? The hypocrisy never ends.

Does Apple get billions in tax breaks??

[ghwk]

Apple makes how much money in this country, and worse ships how many jobs out of the country? Where is the liberal outrage? Oh, because Apple routinely gives money to the DNC, they are off limits and are doing great for this country? The hypocrisy never ends.

Seriously do you think at all before you post? I mean stop for a minute and reason things out, think the logic through. Anything like that? Because you post like an emo girl.

[cutthemdown]

Oh BS. Oil is over $100 a barrel and you want to give these multi-billion dollar companies more of our taxpayer money?

Then tell them not to drill. They will just sell the oil they can easily get for more money.

[Pony Boy]

that's the banks not the dealership.

Yes the banks make the loan but who makes the sales pitch for the 60 to 72 month car loans so they can sell their overpriced cars? Who packages the car and loan together in the advertising to sell a low monthly payment knowing the consumer will be upside down on the car with a year? Who benefited from a taxpayers bailout and has given nothing back to the consumer in the way of a lower price for their product?

[Garcia Bronco]

I understand you need the tax cut. Request denied

[barryr]

Does Apple get billions in tax breaks??

They paid fewer taxes somehow than the oil companies, but made more money last year. Hmm.

[peacepipe]

Yes the banks make the loan but who makes the sales pitch for the 60 to 72 month car loans so they can sell their overpriced cars? Who packages the car and loan together in the advertising to sell a low monthly payment knowing the consumer will be upside down on the car with a year? Who benefited from a taxpayers bailout and has given nothing back to the consumer in the way of a lower price for their product?the banks. at the end of the day a dealership can only sell the car if a bank gives the OK. I went into a dealership yrs ago,& was putting down more than half of what the car was for sale for. they couldn't sell me the car cause every bank told them they couldn't make enough money on it.

[DenverBrit]

They paid fewer taxes somehow than the oil companies, but made more money last year. Hmm.

Again, does Apple get billions in tax breaks like oil companies??

Simple question.

[Pony Boy]

the banks. at the end of the day a dealership can only sell the car if a bank gives the OK. I went into a dealership yrs ago,& was putting down more than half of what the car was for sale for. they couldn't sell me the car cause every bank told them they couldn't make enough money on it.

Who paid for this ad to sell overpriced cars?

<iframe width="420" height="315" src="http://www.youtube.com/embed/r62MAYI8Ti0" frameborder="0" allowfullscreen></iframe>

[Bronco_Beerslug]

Isn't it ironic that you piss and moan about tax breaks for oil company and the price of a barrel of oil when you don't have a problem bailing out the auto companies with tax payer dollars? Then you go down to the auto dealership and pay twice the value of what an automobile is really worth and smile when they offer you a 60 to 72 month loan so you can afford the overpriced piece of crap.
Another complete BS take on current events.
The GM loan will be a net profit for the U.S. government and Right Wingers can't stand that result because Obama was in office when it was done.

I notice YOU didn't think giving oil companies a U.S. taxpayer bailout of another 2 billion dollars is wrong. You must be one of the 1% ers eh?

And BTW, I buy my vehicles with cash, usually at below dealer cost.

[Pony Boy]

Another complete BS take on current events.
The GM loan will be a net profit for the U.S. government and Right Wingers can't stand that result because Obama was in office when it was done.

I notice YOU didn't think giving oil companies a U.S. taxpayer bailout of another 2 billion dollars is wrong. You must be one of the 1% ers eh?

And BTW, I buy my vehicles with cash, usually at below dealer cost.

U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced.

The government recently sold its remaining 6% stake in Chrysler to the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.

Fiat paid the Treasury a total of $560 million for the remaining shares, as well as rights to shares held by the United Auto Workers retiree trust. Fiat now owns a 53.5% stake in the company. Fiat expects to 78% of Chrystler by the end of the year.

Also, why pay cash for a vehicle when you can negotiate a low price and then take advantage of the zero interest offered my most automakers and keep your money invested.

http://money.cnn.com/2011/07/21/autos/chrysler_government_exit/index.htm

[barryr]

Again, does Apple get billions in tax breaks like oil companies??

Simple question.

Are tax breaks the same as tax incentives in your world?

[Bronco_Beerslug]

Also, why pay cash for a vehicle when you can negotiate a low price and then take advantage of the zero interest offered my most automakers and keep your money invested.
Then what's your point of your rant about 5-6 year loans?

And I pay cash because I can negotiate a much lower price than making payments and I don't like owing anyone money, do you?

[Pony Boy]

Again, does Apple get billions in tax breaks like oil companies??

Simple question.

Does Apple want to build manufacturing plants in Alaska and put US citizens to work, if so then I say hell yes give them tax breaks.

[Bronco_Beerslug]

Does Apple want to build manufacturing plants in Alaska and put US citizens to work, if so then I say hell yes give them tax breaks.Do the oil companies want to build manufacturing plants in the U.S. and put Americans to work? The answer is no, they want to use a few Americans to poke holes in our country, polluting the landscapes and sell the results to the highest bidder on the world market.

[Pony Boy]

Then what's your point of your rant about 5-6 year loans?

And I pay cash because I can negotiate a much lower price than making payments and I don't like owing anyone money, do you?

Anyone can arrange a loan in advance from a bank, credit union or even a home equity loan and then walk into a dealership and negotiate a cash price. A cash price means nothing anymore, in my case I can negotiate a cash price and then demand the interest free loan most dealerships are offering. The dealer can not offer a zero interest loan and have a different cash price and if you know that you can hold their feet to the fire but to do this you must have an excellent credit rating.

I'm at a point in my life that I can pay cash for anything but I will always use OPM (others peoples money) when it is available. For example no one would invest their personal savings to start a small business if there is investment capital available, the first rule of business is to never put you personal capital or property at risk.

Do you think that John Elway used any of his personal wealth to buy his car dealerships or put any of his personal property at risk?

[Pony Boy]

Then what's your point of your rant about 5-6 year loans?

And I pay cash because I can negotiate a much lower price than making payments and I don't like owing anyone money, do you?

Here's another good reason to use credit, I put about 5K of expenses a week on a capital one credit card and the payment is an automatic withdraw from my bank account, therefore I never pay any interest on the card. I get 2 points for every dollar I spend on that card that can be used for air travel or logging so my wife and I travel frequently for free. It's the same card liberal Alex Baldwin pushes on TV.

[DenverBrit]

Does Apple want to build manufacturing plants in Alaska and put US citizens to work, if so then I say hell yes give them tax breaks.

They are doing so in Texas.

[Pony Boy]

Do the oil companies want to build manufacturing plants in the U.S. and put Americans to work? The answer is no, they want to use a few Americans to poke holes in our country, polluting the landscapes and sell the results to the highest bidder on the world market.

Your thread title was "Oil Giants Demand $2 Billion Tax Cut To Drill In Alaska"

Did you read any of this?

Alaska’s economy is built primarily on oil production.
http://www.aoga.org/wp-content/uploa...rt-3-15-11.pdf

[Bronco_Beerslug]

Here's another good reason to use credit, I put about 5K of expenses a week on a capital one credit card and the payment is an automatic withdraw from my bank account, therefore I never pay any interest on the card.
Uh, let me clue you in on how to make money on money, and it's not using credit cards, it's called investing. Are you paying 5 figure taxes on capital gains on all that money ($250,000 a year in "expenses") you are throwing around? If not you might want to learn how to handle your money a little better.

[Pony Boy]

Uh, let me clue you in on how to make money on money, and it's not using credit cards, it's called investing. Are you paying 5 figure taxes on capital gains on all that money ($250,000 a year in "expenses") you are throwing around? If not you might want to learn how to handle your money a little better.

Spending 5K a week for expenses doesn't have anything to do with how much my personal income is or how I spend my personal income. Do you really think anyone would carry around 5K in cash to cover his expense account, are you really that stupid?

[alkemical]

Spending 5K a week for expenses doesn't have anything to do with how much my personal income is or how I spend my personal income. Do you really think anyone would carry around 5K in cash to cover his expense account, are you really that stupid?

I just carry around some Tide (http://www.chicagotribune.com/news/sns-201203151150usnewsusnwr201203140314tidetheftmar15, 0,1245187.story), yo.

[Bronco_Beerslug]

Spending 5K a week for expenses doesn't have anything to do with how much my personal income is or how I spend my personal income. Do you really think anyone would carry around 5K in cash to cover his expense account, are you really that stupid?

How stupid do you think people are? If you are claiming you spend $5,000 a week ($250,000 a year in expenses) that means you are world traveler and make well over mid 5 figures a year.

Want to try and explain that?

[DenverBrit]

Anyone can arrange a loan in advance from a bank, credit union or even a home equity loan and then walk into a dealership and negotiate a cash price. A cash price means nothing anymore, in my case I can negotiate a cash price and then demand the interest free loan most dealerships are offering. The dealer can not offer a zero interest loan and have a different cash price and if you know that you can hold their feet to the fire but to do this you must have an excellent credit rating.

I'm at a point in my life that I can pay cash for anything but I will always use OPM (others peoples money) when it is available. For example no one would invest their personal savings to start a small business if there is investment capital available, the first rule of business is to never put you personal capital or property at risk.

Do you think that John Elway used any of his personal wealth to buy his car dealerships or put any of his personal property at risk?

Ok, I'll bite.

If Elway didn't put his own money in the business, or borrow against his assets, how did he finance the dealerships and end up with 80 million from their sale to Auto Nation?