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House seeks more oil royalties, kills tax breaks [aimed at "Big Oil" .....]
Yahoo ^

Posted on 01/18/2007 3:19:11 PM PST by Sub-Driver

House seeks more oil royalties, kills tax breaks

4 minutes ago

The new Democratic-led House of Representatives on Thursday passed legislation aimed at "Big Oil" that would roll back some industry tax breaks and force energy companies to pay more drilling royalties, valued at $14 billion over 10 years.

Passage of the bill capped House Speaker Nancy Pelosi (news, bio, voting record)'s 100-hour agenda, which also included measures to raise the minimum wage, lower student loan interest rates and bolster homeland security.

The $14 billion raised from the additional royalties and repealed tax breaks would fund research for renewable energy sources


TOPICS: Front Page News; Government
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1 posted on 01/18/2007 3:19:14 PM PST by Sub-Driver
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To: Sub-Driver

Fuel prices will go up... Thanks Bella Pelosi

Meadow Muffin


2 posted on 01/18/2007 3:21:17 PM PST by rwgal
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To: Sub-Driver

commies on a roll


3 posted on 01/18/2007 3:21:22 PM PST by samtheman
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To: Sub-Driver

This is a great idea. Let's see if we become more dependent on foreign oil so that we can get involved in even more oil wars.


4 posted on 01/18/2007 3:22:37 PM PST by Busywhiskers (Strength and honor.)
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To: rwgal

Don't waste your breath. These clowns don't even understand the first page of Economics 101.


5 posted on 01/18/2007 3:25:00 PM PST by 353FMG (I never met a liberal I didn't dislike.)
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To: Busywhiskers

Oh, this is going to be a big help in making us independent of foreign oil.


6 posted on 01/18/2007 3:25:31 PM PST by Old Seadog (Inside every old person is a young person saying "WTF happened?".)
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To: rwgal

This just on the tail end of oil down dropping less then $50 a barrel and average prices dipping just below $2g again.

Sigh. Well at least minimum wage is going up so people can afford higher prices </sarcasm>


7 posted on 01/18/2007 3:25:35 PM PST by Domandred
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To: rwgal

Big Oil hands out half-billion dollar parachutes yet can't maintain their infrastructure and their exploration is a sick joke.
Sorry, but I'm supposed to defend these guys? I'll split with the party on this one, thanks anyway.


8 posted on 01/18/2007 3:27:10 PM PST by soupcon
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To: Sub-Driver
would fund research for renewable energy sources

Did we awaken in a new universe on 18 Jan 2007? The Dept of Energy was created in response to the Arab oil embargo and began research into alternative energy sources. They also got management of the country's nukes. Initial funding was $5 billion a year. Are we just starting now after 34 years like we are just starting a moon landing program 34 years after the country already did that? What has been going on for the past 34 years besides Leftist dithering with our national resources?

9 posted on 01/18/2007 3:30:32 PM PST by RightWhale
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To: rwgal

This action would virtually GUARANTEE our dependence on foreign oil would only INCREASE.

And yet, the Dem'crats would vote overwhelmingly for subsidies to ADM so they could build more and more ethanol plants.

Political correctness is a cancer. And one that is rapidly metastasizing.


10 posted on 01/18/2007 3:32:44 PM PST by alloysteel (Just going to church doesn't make you a Christian, Like standing in a garage doesn't make you a car.)
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To: alloysteel

This will surely bring down the price of oil. I can't believe the dimocRATS. Hope GWB vetoes it.


11 posted on 01/18/2007 3:36:41 PM PST by Parley Baer
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To: Sub-Driver

Since they have already done that, what should happen now is that no more raises for Congress until the energy crisis is over. In fact, cut their salary by 10% for every year the crisis goes on. Cut it another 10% for every million barrels of oil we have to import. Cut it another 10% for every year they don't allow more drilling in the US. Since they live for money, hit them where it hurts.


12 posted on 01/18/2007 3:39:23 PM PST by Ron2
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To: soupcon
Hmm ~ sounds like you don't understand that the COST, 100% of it, is going to fall on AMERICAN OIL.

This will, as usual, make ARAB OIL relatively cheaper and put us in hock to the Islamofascist terrorists all that more.

But that is as the mobster's daughter Nancy Pelosi has planned. Next, prayer 5 times a day.

13 posted on 01/18/2007 3:39:46 PM PST by muawiyah
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To: rwgal

Bela Pelosi wants more tax money to squander on BS social programs


14 posted on 01/18/2007 3:40:26 PM PST by dennisw (Don't let your past become your future -- Georges Gurdjieff)
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To: Sub-Driver

We already have a reliable alternative energy supply, if the paranoid liberal dims would get their half witted @$$e$ out of the way. "Nuclear."


15 posted on 01/18/2007 3:44:41 PM PST by F.J. Mitchell (Only cannibalistic Muslims eat pork, the rest eat the slop puked up by the dying pigs.)
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To: Sub-Driver

If the House is aiming at big oil---,who they will hit will be Joe Consumer.

The big oil companies will pass on the loss to Joe Consumer: Then the House Demorats will take this tax,because that is really what it is, and they will pass it out to their Green Friends who pay lip service to alternative fuels and always come up with squat.

Just more theft from San Fran Nan.

What really hurts is that liberals are too stupid to see thru this crap, and many conservatives stayed home and let this happen.


16 posted on 01/18/2007 3:46:13 PM PST by sgtbono2002 (Peace through strength.)
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To: Sub-Driver
Passage of the bill by a vote of 264-163 capped House Speaker Nancy Pelosi (news, bio, voting record)'s 100-hour agenda, which also included measures to raise the minimum wage, lower student loan interest rates and bolster homeland security.

Look at the vote count, people. The Dems do not have a 101 vote majority in the House.

This is a bi-partisan ripoff.

17 posted on 01/18/2007 3:46:39 PM PST by Smokin' Joe (How often God must weep at humans' folly.)
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To: Sub-Driver
force energy companies to pay more drilling royalties

Want oil companies to pay more royalties? Easy, just let them do more drilling.

18 posted on 01/18/2007 3:56:19 PM PST by thackney (life is fragile, handle with prayer)
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To: soupcon
yet can't maintain their infrastructure and their exploration is a sick joke

Care to explain that?

19 posted on 01/18/2007 3:57:13 PM PST by thackney (life is fragile, handle with prayer)
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To: Sub-Driver

Pelosi obviously attended the Al Gore school of political timing.


20 posted on 01/18/2007 4:00:08 PM PST by Proud_USA_Republican (We're going to take things away from you on behalf of the common good. - Hillary Clinton)
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