Oil Companies reimbursed for extracting oil? by AnthonyT

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Oil Companies reimbursed for extracting oil?

POSTED BY: ANTHONYT
UPDATED: Wednesday, April 27, 2011 02:52
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Tuesday, April 26, 2011 4:52 PM

Freedom is Important because People are Important

http://money.cnn.com/2011/04/26/news/economy/oil_tax_breaks_obama/inde
x.htm?iid=RNM

Hello,

I just read this article, and was surprised to learn that oil companies are reimbursed for extracting oil from their land.

They are also apparently reimbursed for paying fees to other governments who charge them for extracting oil from their foreign lands.

So not only do we pay them for taking out oil here, but we pay them for taking out oil there.

What a remarkable system. It is no wonder why people complain that corporations are treated better than citizens in this country.

Now, apparently, the folks in charge are considering an end to these reimbursements. What a bright idea. I wonder how many other special privileges corporations enjoy when they play the tax game? We need to streamline our tax code and take these special privileges away.

Of course, I'm not sure what incentive the politicians have to do this.

--Anthony

_______________________________________________

“If you are not free to choose wrongly and irresponsibly, you are not free at all”

Jacob Hornberger

“Freedom is not worth having if it does not connote freedom to err. It passes my comprehension how human beings, be they ever so experienced and able, can delight in depriving other human beings of that precious right.”

Mahatma Gandhi

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Wednesday, April 27, 2011 2:52 AM

GEEZER

Keep the Shiny side up

Google "Obama end dependence foreign oil", or change "Obama" to "Bush", "Clinton", "Pelosi", "Gingrich" etc. - you could probably go back to Eisenhower and find the same if his comments were online. That's why there have been targeted deductions and credits (not reimbursements) for the oil industry for quite some time.

Now is just too good a time - politically - to not get in a few shots at the oil industry, what with rising gas prices and the memory of the oil spill still fresh. I expect that shortly it'll go back to "Stop the oil companies from exporting American jobs. End dependence on Foreign oil. " once again.

"Keep the Shiny side up"

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