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**lXwVlTgO** · 05-20-2011, 03:20 PM

Aren't the type of tax breaks that oil companies recieve also available to most other corporations? If write offs are available, who wouldn't use them.

This is just a bunch of political BS to try to win votes from those not educated enough to know better.

The oil industry last year had average profits of less that 6%!

6% of what? I assume this number is worldwide? So it includes companies that don't pay US taxes? Or have any revenue in the US?

Democratic Leaders Mislead on Gas Prices, Oil Taxes, Says Energy Expert | CNSnews.com

"as Institute for Energy Research Senior Vice President Dan Kish told CNSNews.com, eliminating tax write-offs for oil companies will not have any effect on gas prices."

So the industry doesn't need these tax breaks. Fair enough.

05-20-2011, 03:20 PM	#4
lXwVlTgO Join Date Oct 2005 Posts 545 Senior Member	Aren't the type of tax breaks that oil companies recieve also available to most other corporations? If write offs are available, who wouldn't use them. This is just a bunch of political BS to try to win votes from those not educated enough to know better. The oil industry last year had average profits of less that 6%! 6% of what? I assume this number is worldwide? So it includes companies that don't pay US taxes? Or have any revenue in the US? Democratic Leaders Mislead on Gas Prices, Oil Taxes, Says Energy Expert \| CNSnews.com "as Institute for Energy Research Senior Vice President Dan Kish told CNSNews.com, eliminating tax write-offs for oil companies will not have any effect on gas prices." So the industry doesn't need these tax breaks. Fair enough.
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