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Politics : Formerly About Advanced Micro Devices
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To: longnshort who wrote (321762)1/19/2007 5:13:36 PM
From: RetiredNow  Read Replies (1) of 1577919
 
You bet. The oil companies will pay for it. What you seem to be missing is Econ 101. Tax incentives aren't incentives at all when a company is earning massive excess profits. If an investment is profitable you don't need to tack on another 10% out of tax payers pockets for the oil company to have the incentive to make the investments. At $50+ per barrel, most every investment in offshore drilling is worthwhile, so tax incentives are just a waste of tax payer money.

Therefore, the oil companies claiming that they'll stop investing in new projects if they lose the tax incentives is just a lot of hogwash. They'll continue to invest because it makes economic sense at $50. It's that simple.

So which oil company do you work for?
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