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

To: RetiredNow who wrote (670)	7/10/2008 1:11:06 PM
From: Brumar89	Read Replies (1) \| Respond to of 86355

No. You made a mis-statement about tax credits for offshore drilling and are trying to avoid admitting that. The claim of "subsidization" of the oil industry is based on particular tax policies like deductions for 70% of intangible drilling costs and percentage depletion (though those making "subsidization" arguments never mention that this particular deduction - percentage depletion - was lost by integrated companies (big oil iow) in the early 1970's). Would you be honest to admit that the "subsidies" anti-oil critics talk about are driven by a policy of stimulating domestic production and limiting those imports you say you don't like?