A Quote by Dan Benishek
I can understand where the oil company wants to deduct the cost of drilling a well. That's one of the tax breaks for oil companies - the subsidies - they get to deduct the cost of the well the year you drill.
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Corporations can deduct their planes, all their office expenses, their machinery, their computers and Teleprompters and whatever else they have. They can deduct their yachts, they can deduct their limousines, their planes, everything.
In 1972, Texaco Oil Company, in partnership with PetroEcuador, the state-run oil company of Ecuador, began to drill for oil in the jungles of the Ecuadorian Amazon.
The disaster in the Gulf was no accident. It was the result of years of oil money buying off politicians to lead to an unregulated and ill focused addiction to oil and drilling. The doomed fate of the local fisherman and the environment were foretold in the infamous chants of 'Drill, Baby, Drill.
The disaster in the Gulf was no accident. It was the result of years of oil money buying off politicians to lead to an unregulated and ill focused addiction to oil and drilling. The doomed fate of the local fisherman and the environment were foretold in the infamous chants of 'Drill, Baby, Drill.'
The oil companies are regulated by the federal government. They can't drill on land nor in American waters without permission from the feds. Many Republicans want to drill baby drill but what's the point if all the oil goes to China? Increased production obviously doesn't mean lower prices for us.
Subsidies for the oil, gas and coal industries are projected to cost taxpayers more than $135 billion in the coming decade. At a time when scientists tell us we need to reduce carbon pollution to prevent catastrophic climate change, it is absurd to provide massive subsidies that pad fossil-fuel companies' already enormous profits.
Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company. And there was no more damned reason for all these oil companies to buy fertilizer companies, but they didn't know exactly what to do, and if Exxon was doing it, it was good enough for Mobil and vice versa.
My plan will also help reduce the cost of child care by allowing parents to fully deduct the average cost of child care spending from their taxes.
Oil remains fundamentally a government business. While many regions of the world offer great oil opportunities, the Middle East with two-thirds of the world's oil and the lowest cost, is still where the prize ultimately lies, even though companies are anxious for greater access there, progress continues to be slow.
I sometimes compare my brainstorming on paper to the drilling of oil wells. The only way to strike oil is to drill a lot of wells.
We can reduce the effect of future disruptions by reducing our dependence on oil, not putting up more rigs and drilling our special places. The fact is, we cannot drill our way to oil independence.
We need an honest bottom line. Today that bottom line is vastly subsidized. If anyone of us were paying the full cost of oil our bottom lines would be very different. If you internalize the cost of oil, look at the cost of the war in the Middle East or the cost of global warming for future generations, if you internalize those external costs and what you pay, that bottom line would look very different, what ever business you are in.
This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."
So long as oil is used as a source of energy, when
the energy cost of recovering a barrel of oil becomes
greater than the energy content of the oil, production
will cease no matter what the monetary price may
be.
If we choose to keep those tax breaks for millionaires and billionaires, if we choose to keep a tax break for corporate jet owners, if we choose to keep tax breaks for oil and gas companies that are making hundreds of billions of dollars, then that means we've got to cut some kids off from getting a college scholarship.
The companies that provide debt, what do you think their goal is? Is their goal for you to fully understand the cost of your debt? No. So they're basically creating these approaches to make you feel like it is incredibly cheap or just to think about the cost per day rather the cost per year or cost for a lifetime. So debt is very simple mistake.
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