Posted on 08/14/2008 12:55:18 PM PDT by TitansAFC
....“Windfall profits taxes alone prevent additional investment in domestic production. Without new supplies from American reserves, our dependency and addiction to foreign sources of oil will continue,” Governor Palin said.....
http://palinforvp.blogspot.com/2008/08/palin-blasted-obama-on-windfall-profits.html
You thought this thread was about Governor Palin? For shame !
The Alaska tax is based on the idea the residents own the resource. The oil companies are taxed on the profit they get from selling the residents oil. The rebate the state is paying ($1200), is from the 8+ billion dollar surplus the state received this past year.
From http://financial-dictionary.thefreedictionary.com/
Windfall profit
A sudden unexpected profit uncontrolled by the profiting party.
The pot calling the kettle black.
Palin signed a windfall profits tax in Alaska. Who’s kidding who?
What she is really saying is You can’t put a windfall profits tax on big oil because I am already doing it.
Sorry for the repetition, and that it sets you off, but over 10 years here on FR have shown me that it gets the word out to many hundreds, and even thosuands more regarding the info about Obama.
The actions of her administration contributed to my decision to leave working in the Alaska Oil patch and return to Texas.
I didn't see anything in there about a change in the payment schedule. It does look like the high price of oil pushed the payments to a higher percentage. The idea of the Alaska method is that the oil belongs to the residents of the state, not to the oil companies. For pumping the oil the oil companies get to keep some of the money and have to pay some of it to Alaska. Hey, if I had a big puddle of oil underneath my land, I would try to get a similar payment plan - I get at least some of the increase of value of _my_ oil if the world price goes up. It would be pretty stupid to sell it to the oil company many years in advance for a fixed price per barrel.
Leave Jeff alone!
This isn't done anywhere I know and it wasn't done it Alaska. It was a percentage that already went up when the prices went up, both for royalties and again for taxes on profits. Palin's administration then raised the percentage and made the change retroactive.
That looks nice but we want to keep her for a while!
Right I noticed that after I had posted it...sorry...I think it was from Monday.
sounds like a vp
“sounds like a vp”
From your lips to God’s ears, FRiend.
The idea behind the tax is preposterous. To own an asset, you must purchase it and invest in it to make it productive. The fact that the residents have declared themselves owners without investment is legalized theft. The rats have the same idea. They feel entitled to windfall profits, whatever a windfall profit is.
Here are some provisions about the tax:
This is one tax that the rats can love. It seems that the state is assessing a hefty profits tax. There is even a rate uptick when the price per barrel rises above an arbitrary threshold.
You can apply the same idea to any asset. Suppose we say that the state owns all real estate. Essentially you receive a lease and must pay 22.5% to the actual owners of your property. The owners however have no obligation to invest in the property. If you do not make specified investments, your lease will be taken away.
Palin for VeeP bookmark.
HAH! :)
Yes she is :)
My understanding of the deal she cut is that it’s NOT a tax, but rather a royalty on a sliding scale.
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