Production decreased, not increased.
Posted on 08/22/2011 8:17:41 AM PDT by The Bronze Titan
Oil companies in Alaska are paying more money in taxes than ever before. The state's oil and gas tax revenues for its just-ended fiscal 2007 topped $10 billion. That's twice as much as fiscal 2006 and four times more than 2004. Some supporters of Barack Obama see that money coming in and say that John McCain's running mate, Alaska Gov. Sarah Palin, must have done what Sen. Obama wants to do -- sock those companies with a big fat windfall profit tax. This is a deeply misleading reading of her 2007 tax reform.
...continued HERE.
(Excerpt) Read more at online.wsj.com ...
There is nothing wrong in charging industries for resources. Do you think they should get it for free if the citizens own the resources? This is pure capitalism at its finest.
Pray for America
Which makes no sense from an environmental point of view (which is their rationale for not drilling on our lands and in our coastal waters). On the one hand, they propose that the entire world has to come together combat global warming and then in the next instant, it's good environmental policy to drill elsewhere, not here. And further illogic is that it is OK to use the products of that elsewhere drilling.
On the smaller scale, California won't allow any new refineries in their state, but they don't reduce their use of refined oil to the amount they refine in-State. The moratorium on refineries (and off shore drilling) is based on 'environmental' reasons. So if the oil extrated elsewhere and is refined, sa in Texas, it's environmentally OK?
Long as I live I will never understand liberal 'logic'.
[ -”As a new governor in 2007, Mrs. Palin stepped in to address the fiscal crisis and restore accountability. Working with Democrats and Republicans alike” ]
“restore accountability” - this is what scares the left out of their knickers.
The royalty payment was not change by Sarah Palin. A royalty payment goes into the Permanent Fund that is saved for future generations. About 1/2 the earnings of the fund, including the royalty payment is shared with the Alaskan people based upon a 5 year average. Most of the money in the check comes from performance on the investments, about 1/5 is from the royalty income.
This process by keeping half of the earnings and returning to the fund allows it to grow for future generations.
ACES, the taxing policy implemented under Sarah Palin’s direction is a tax on profits. Expenses including the royalty payments are deducted then the remained taxed. This rate increases as the profit increases. This money does not go to the fund but goes directly into the State Treasury for government spending.
Many outside people confuse the royalties and taxes.
The state's oil and gas tax revenues for its just-ended fiscal 2007 topped $10 billion. That's twice as much as fiscal 2006 and four times more than 2004I guess there's no relation to increased tax revenue with increased production and record profits...Only that Palin raised taxes on those poor oil companies.
I went and read the entire thing ... but didn’t learn more about “Her plan includes an escalator clause that gives the state a larger share of revenues when oil prices rise. “
That is the part that people say makes her like the wind fall profit tax.
It is all in the details, If she enters the race...I will want more information.
No. 5.5% real reduction in Yr. 1, 9.5% by the 3rd budget (her budget).
Production decreased, not increased.
You're right and she ran on that promise too, as Al B. posted last night:
And that's what she did.
I'm guessing you never read any commercial and residential standard leases, nor commercial contracts for goods and services.
Demonic-rats are in the pockets of whacked-out and greedy environmentalists. There’s no such viable thing as green energy. It’s all grand scheme and hoax.
And it worked:
August 14, 2011 (from the McClatchy ADN, no less) -- Slope exploration seaason looks to be busiest in decades
Yay, you’re here! I just posted a portion of your fabulous post from last night!
Begrudging credit to their magnificent former Governor Palin? (Linking now).
She forward-funded education by $1.2 billion during her tenure.
A: its not a hit piece.
B:SEPTEMBER 5, 2008 | JAMES P. LUCIER JR.
2005 - 6.9 billionYou can figure out when Palin was actually Governor, every time I try to match these to her term someone yells at me that I'm doing it wrong. But clearly the budget went up every year from 2006-2010, so obviously spending increased under Gov. Palin.
2006 - 7.4 billion
2007 - 7.8 billion
2008 - 8.6 billion
2009 - 8.9 billion
2010 - 9.5 billion
Note that since government spending in Alaska includes the tax money from oil companies that is distributed to individuals, it may be that there are subsets of spending that decreased during her time in office.
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