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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (647)7/9/2008 8:44:50 PM
From: TimF  Read Replies (1) | Respond to of 86355
 
When Congress threatens to remove the $13 billion in offshore drilling tax credits the oil companies get, they and the Republicans scream loudly that their business is going to suffer and that Congress is actively hostile to it.

They can scream anything they want. I'm not responsible for what they say. Your taking some point which I didn't argue, and which you don't yourself support, and acting as if it was somehow relevant to this discussion. It isn't.

Opposing special targeted tax credits, either for oil, or for alternatives, isn't being hostile to the energy source in question.



To: RetiredNow who wrote (647)7/9/2008 10:53:07 PM
From: Brumar89  Read Replies (1) | Respond to of 86355
 
$13 billion in offshore drilling tax credits the oil companies get, ??? There is no special tax credit for drilling offshore. Certain unconventional and enhanced (tertiary recovery) recovery production gets a tax credit of 15% of enhancement costs. This was enacted a couple decades ago to make it economic for companies to squeeze more oil out of marginal wells. Most offshore production doesn't receive any such credit.


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