Skip to main content

View Diary: Oil companies that got their Alaska taxes cut now don't like the rules proposed to implement them (36 comments)

Comment Preferences

  •  I confess I'm a bit mystified (14+ / 0-)

    If the oil companies can realize an additional profit of 20% or so for their 500,000 barrels of oil sucked out of our land, why would they want to suck out an additional 100,000 barrels? They just got what amounts to a big fat raise for no extra work.

    Does this sort of "logic" only work for the Mighty Captains of Industry, or does it extend all the way down the corporate ladder? Will the people typing memos and answering phones see a raise in their salary, or is that reserved for the "risk takers" who got a lot of something for nothing?

    •  "Our land" Only in America does a national (0+ / 0-)

      resource get taxed by a State which has no sales or income tax. Not to mention every Alaskan gets an annual ~$1,200 welfare check from the oil revenues.

      Sucking too much on the oil teat - methinks.

      •  It's ALASKA'S oil (2+ / 0-)
        Recommended by:
        Aquarius40, Mickquinas

        Are you an oil company shill, or just a jealous resident of some other state?

        The oil comes from STATE land, not Federal land.  It's a STATE resource, not a "national resource".  It belongs to all the people of Alaska, and Gubernator Parnell wants to give away the money that belongs to all Alaskans.

        Our state oil leases retain 12.5% of the oil as a royalty, and the state also taxes oil company profits, just as it taxes other corporations operating in the state.

        Our state constitution requires that 25% of all oil, gas, and mineral revenues be deposited in the Alaska Permanent Fund so that the state will have income after all the oil and gas are gone.  The Fund now has a net worth of about $44 billion.

        Alaskan residents get paid a dividend by the Permanent Fund, about 2% of the Fund's net income distributed to us to help compensate for the high cost of living here.  For many Alaskans living in rural areas with little cash income, the checks help pay for such things as fuel oil and gas for fishing boats that can cost up to $10 per gallon.

        It's not a "welfare" payment.  It's a small portion of the income earned from investing the money that belongs to ALL Alaskans.

        .

        "Everybody wants to go to Heaven but nobody wants to die" --- Albert King

        by HarpboyAK on Thu Aug 22, 2013 at 12:32:48 AM PDT

        [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site