Government meddling

B. Max · December 26, 2006

The loser of course will be the average joe when political hacks who most likely couldn't even get a job in the real world get elected and think they can run the oil companies. I like the one about stopping some oil companies from bidding on oil leases. Don't they know that the fewer the bidders the cheaper the leases will go for. Or that the lower the reserves the more pressure it can put on supply and demand further driving up prices at the pump. In the war against the oil campanies the government really has no big guns. If the oil companies decide they've had enough they'll just turn off the switch and pull out.

http://www.newsmax.com/archives/ic/2006/12...2636.shtml?s=ic

jdobbin · December 27, 2006

The loser of course will be the average joe when political hacks who most likely couldn't even get a job in the real world get elected and think they can run the oil companies. I like the one about stopping some oil companies from bidding on oil leases. Don't they know that the fewer the bidders the cheaper the leases will go for. Or that the lower the reserves the more pressure it can put on supply and demand further driving up prices at the pump. In the war against the oil campanies the government really has no big guns. If the oil companies decide they've had enough they'll just turn off the switch and pull out.
http://www.newsmax.com/archives/ic/2006/12...2636.shtml?s=ic

So you believe the oil industry should be subsidized by the taxpayer as it is now?

B. Max · December 27, 2006

So you believe the oil industry should be subsidized by the taxpayer as it is now?

What are the subsidizes. If the oil companies turn off the tap, the government will pay the last dollar it has to get it turned back on. The oil companies spend billions of dollars every year to keep it all going.

jdobbin · December 27, 2006

What are the subsidizes. If the oil companies turn off the tap, the government will pay the last dollar it has to get it turned back on. The oil companies spend billions of dollars every year to keep it all going.

I Canada, the oil industry gets around $1.4 billion per year.

http://www.pembina.org/climate-change/pubs...ase.php?id=1154

Some say the U.S. receives upwards of $6 billion in subsidies. That was in Bush's energy bill.

http://www.fpif.org/fpiftxt/3108

Overall, Bloomberg financial reports that oil and gas gets $11.6 billion in subsidies.

B. Max · December 27, 2006

Tax deductions are not subsidizes. That money is invested in all kinds of plants, drilling and wages. Without it the economy would be gone. The resulting war would make 10,000 katrina's look like a sunday picnic.

One would have to be crazy to tax away oil company profits and hand them over to the Kyoto scam just to watch starvation and war take root in this country.

jdobbin · December 27, 2006

Tax deductions are not subsidizes. That money is invested in all kinds of plants, drilling and wages. Without it the economy would be gone. The resulting war would make 10,000 katrina's look like a sunday picnic.
One would have to be crazy to tax away oil company profits and hand them over to the Kyoto scam just to watch starvation and war take root in this country.

Tax deductions are subsidies for industries that do not need them. Why would profitable enterprises need them.

Next, not everything oil companies get is a tax deduction. In some cases, they ask for and receive grants and loans from the government.

B. Max · December 28, 2006

Tax deductions are subsidies for industries that do not need them. Why would profitable enterprises need them.
Next, not everything oil companies get is a tax deduction. In some cases, they ask for and receive grants and loans from the government.

Every company gets tax deductions. What ever loans or grants they get would have to be evaluated on an individual bases.

jdobbin · December 28, 2006

Every company gets tax deductions. What ever loans or grants they get would have to be evaluated on an individual bases.

I tis hard to think of a reason why some of the most profitable companies in Canada and the world need help on financing an oil deal.

Remiel · December 28, 2006

Countries have armies. Oil companies do not. Oil companies turn off all the taps. Armies move in. Oil companies cease to exist. Taps turn back on.

B. Max · December 28, 2006

Countries have armies. Oil companies do not. Oil companies turn off all the taps. Armies move in. Oil companies cease to exist. Taps turn back on.

Wrong, armys could no better run the operation any better than some government paper pusher who could even find the oil patch. The government found that out when they bought up the oil companies that formed petro can and cost us billions.

GostHacked · December 29, 2006

Countries have armies. Oil companies do not. Oil companies turn off all the taps. Armies move in. Oil companies cease to exist. Taps turn back on.

Wrong, armys could no better run the operation any better than some government paper pusher who could even find the oil patch. The government found that out when they bought up the oil companies that formed petro can and cost us billions.

Turn off the oil taps and your military is baisly useless. Think about it. Unless you have enough oil reserves (meaning refined or stored oil in a facility, not the stuff in the ground still) your army is going nowhere.

No fuel for

Humvees

Tanks

Logistic transportation

Planes

Helicopters

Navel ships (ok some are nuke u lar powered)

Troops are in for very very long walks.

geoffrey · December 29, 2006

How much does the big three get in South Western Ontario? More than oil? Ummm Hmmm.

And they still can't make a buck.

It's Ottawa that cuts oil a break. In Alberta, royalties are low, but that's about it. And it's not really a subsidy considering that royalty is the same for everyone.