Red State Alaska - Raising Taxes on Big Oil and Gas

[Jw2]

according to conservative anti-tax guru, Grover Norquist, the elimination of a tax deduction or a credit = a raise in taxes.

Walker's oil tax credit bill seeks more transparency, fewer loopholes


Gov. Bill Walker’s bill to reduce tax credits to the oil and gas industry, worth $500 million to the state primarily through reduced spending, underwent tough questioning during its first hearing in the House on Wednesday.

[KensanIV]

Are you still stalking Dan? 

Why don't you tell us about Chicago's police slowdown and the doubling of gun homicides in January? 

[takncarabizniz]

So, wouldn't that be a good thing?  Having everyone contribute to the success of the state?

Hmmmmmmmmmmm

[wmdn_bs]

So, wouldn't that be a good thing?  Having everyone contribute to the success of the state?

Hmmmmmmmmmmm

Normally I would agree with you Takncarabizniz. If it had been proposed when the oil industry was going great guns and raking in record profits that would been awesome. Now, when a barrel of oil costs more to produce than it sells for, I'm not sure it's the right time. It's Alaska, not Michigan so I will let the Alaskans decide if this is a smart move or not.

I wonder how Dan feels about it. If the oil industry is run out of Alaska, he will lose his welfare check.

[KensanIV]

I saw that Obama was trying to stick a $10.00 per barrel tax on it.  Since an oil barrel is considered 20 gallons... I guess he wants 50 cents per gallon more.

What a guy!





https://jittery.com/3616641/obama-wants-10-per-b

[Dan]

I wonder how Dan feels about it.

The oil companies have essentially ceased exploration for new wells.  Once the production wells dry up, the oil companies will leave, especially if the tax structure is punitive.

If the oil industry is run out of Alaska, he will lose his welfare check.

I don't receive any welfare, wmd.  You have been misinformed.  If you are referring to the Permanent Fund Dividend, that is a program to distribute the earnings of stock, bond and real estate investments to the residents of Alaska.

Alaska is one of the few states (if not the only one) where the subsurface rights cannot be owned privately.  I am not allowed to own the mineral rights on my own land.  All mineral rights are owned "in common" by the residents of Alaska.  As such, the Hammond administration wanted to set up a program where the Alaskans can benefit from their equal ownership of Alaska's minerals.  It's sort of a compensation for not being allowed to own the minerals on our own private land.  So you see, the oil, gold, copper, zinc, gravel, etc. is owned by the residents of Alaska, not the oil and mining companies.  It's OUR mineral resources, OUR resource revenue.  Not welfare.  Welfare is when you receive something for nothing.  In the case of the PFD, the payment is in exchange for us selling our minerals to the oil and mining companies.

[wmdn_bs]

The oil companies have essentially ceased exploration for new wells.  Once the production wells dry up, the oil companies will leave, especially if the tax structure is punitive.

I don't receive any welfare, wmd.  You have been misinformed.  If you are referring to the Permanent Fund Dividend, that is a program to distribute the earnings of stock, bond and real estate investments to the residents of Alaska.

You are getting something for nothing. You are getting a check for being alive in Alaska. You haven't earned a penny of that money. Unearned money is welfare.

[KensanIV]

Penna has lead the nation in fracking... What have the residents received from all of the natural gas they have sucked from under our land?  NOTHING!!!  that I can see.  The state government takes millions and tosses it into the state budget.

I wish they acted as honorably as Alaska does regarding their residents. It is our state and our natural resource.

[Dan]

You are getting something for nothing.

No.  I'm getting something for my mineral rights.

[Jw2]

Daniel wants to raise taxes.

[Dan]

Just on the freeloaders, johniel.  No more tax increases until everyone pays something.

[Jw2]

Daniel is OK with raising taxes on his household of freeloaders.