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Politics : Formerly About Advanced Micro Devices

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Brumar89

To: Brumar89 who wrote (870576)	7/5/2015 1:58:51 PM
From: i-node	1 Recommendation Read Replies (1) of 1580486

>> Do you think LIFO inventory accounting is O&G subsidy? It's the #1 alleged such subsidy. They do this. Even though LIFO is available to most large businesses, O&G is singled out for it to be called a subsidy. AFAIK, there was no substantive use of LIFO until after the Roosevelt Recession, at which time FDR's people thought it would provide "stimulus" for investment in inventories (which it probably did). The O&G subsidy, as far as I can tell, is a lie. I saw a document yesterday claiming that $500 Billion of the military budget was an oil subsidy. They're just say anything. LIFO, various deductions related to drilling & development, etc., this is all stuff that would be written off either way. They often talk about %Depletion, but it apparently generates no significant deduction at all for any significant oil company. It is yet another case of Democrats running wild on crap they know nothing about.

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