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View Diary: A taxing compromise on Keystone XL (26 comments)

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  •  And to look at the "bigger picture" (1+ / 0-)
    Recommended by:
    6412093

    here's an interesting snippet:

    Warren Buffett and Carl Icahn are reaping the benefits of surging demand for railroad tank cars to haul shale oil from beyond the reach of existing pipelines.

    Buffett’s Union Tank Car Co. is working at full capacity and Icahn’s American Railcar Industries Inc. (ARII) has a backlog through 2014. Trinity Industries Inc. (TRN), the biggest railcar producer, began converting wind-tower factories last year to help meet demand for train cars that can transport the petroleum product.

    link

    A couple of points jump out of that

    1) the bad optics if Obama nixes the Keystone pipeline, thus benefiting Buffet (a reliable bugaboo to the RWers).

    2) they're right now converting wind turbine factories to produce rail cars to transport crude oil - how crazy is that?

    •  I'm taking a hard look (1+ / 0-)
      Recommended by:
      Roadbed Guy

      at the various State severance taxes on oil/gas drilling, which are, in a matter of speaking, carbon taxes.

      Those could provide a good boilerplate for a national carbon tax.  In addition the State taxes could be adjusted so that Ohio doesn't get a dime while Montana gets a dollar for the same amount of oil withdrawn.

      Orly, it isn't evidence just because you downloaded it from the internet.

      by 6412093 on Tue Mar 19, 2013 at 12:05:42 PM PDT

      [ Parent ]

      •  I don't really understand this: (0+ / 0-)
        In addition the State taxes could be adjusted so that Ohio doesn't get a dime while Montana gets a dollar for the same amount of oil withdrawn.
        Personally, I go for something like an escalating $0.25 a year tax per gallon of gasoline imposed nationwide (i.e., 25 cents the first year, 50 cents the next, then 75 and  so on).

        Which similar assessments for coal and natural gas based on the amount of carbon dioxide emitted.

        The $$s generated could/should be used for two things

        1) mitigating the increased costs for low income people

        2) a trust fund to deal with Sandy-type events

        •  What I meant (1+ / 0-)
          Recommended by:
          Roadbed Guy

          The State taxes could be standardized so the oil/gas industry doesn't screw a state.

          North Dakota taxes oil and gas at 5% at the wellhead pump which would be $4.50/barrel of oil.  

           Ohio taxes it at about 10 cents per barrel of oil.

           Texas is 4.6% which is about $4/bbl.

          Kansas gets 8% minus 3.67% credit for 4.33%.

          Oklahoma gets 7%. About $6.30/bbl.

          Ahem, Ohio, you're getting hosed.

          Texas also taxes byproducts, called condensates, which few if any states tax.

          Many of these figures are from the Innertubes, and conflict with other sources.

          Orly, it isn't evidence just because you downloaded it from the internet.

          by 6412093 on Tue Mar 19, 2013 at 09:30:43 PM PDT

          [ Parent ]

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