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MichaelBluejay

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From: Austin, TX

Registered: 2008-05-26

Posts: 1,466

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What oil & gas companies extract from the American public

Here are some recent articles from Citizens for Tax Justice.

Offshore cheating.  Oil & gas companies pretend to relocate offshore to escape U.S. taxes.  Our own Congressman Lloyd Doggett has filed a bill to close this loophole.  (Whether it will actually pass is another matter...)  http://ctj.org/pdf/drillingoffshore.pdf

Subsidies.  Despite being fully capitalized, needing no incentive to produce oil, and being filthy rich, the U.S. government heavily subsidizes oil & gas companies in the form of generous tax advantages:  http://ctj.org/pdf/energy20100709.pdf