Posted by oldtanker on November 25, 2015 at 07:01:57 from (64.118.3.19):
In Reply to: 38% Decline posted by GBCMAN on November 25, 2015 at 04:47:25:
Quoting Removed, click Modern View to see
The so called subsidies the oil companies get are in the form of tax write offs. Things like the cost of exploring for oil which is an expense. A farmer gets to write off stuff too. Repairs, fertilizer, soil sample cost (exploring as such) some on new equipment (plus the mileage and associated cost of looking for it, again exploring) and so on. So you start eliminating the tax write offs on legitimate expenses for one industry just how long do you think it will be before these same groups going after oil companies start going after tax write offs for the farmer and other businesses too? Be careful what you wish for, you just may get it.
Plus there is a ban on exporting oil produced in the US. They are fighting about that in congress right now with some wanting to lift that ban.
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