Oklahoma Senate Passes Tax Hike on Oil and Gas

[Shadowrider]

lol, the state put all their eggs in one basket and you wanna blame oil production practices on that?

Well it's "the State" that is saying O&G doesn't pay their fair share when "the State" gets 25% of all their money from them. So whose right? This is exactly what I was referring to about stupidity above. We can add hypocrisy to that too.

 

[CHenry]

Well it's "the State" that is saying O&G doesn't pay their fair share when "the State" gets 25% of all their money from them. So whose right? This is exactly what I was referring to about stupidity above. We can add hypocrisy to that too.

At this point how much actual credibility are you gonna give our "state" money handlers? LMAO.
The O&G companies know how to spend wisely and overcome adversity in the market.
How well is our "state" doing at that?

 

[RETOKSQUID]

After looking at this for a little bit the more I think the tax codes in this country, Federal and State need a complete overhaul. Way too much of "if this then that" in all of it.

 

[caojyn]

So whose right?

Mine?

 

[Shadowrider]

After looking at this for a little bit the more I think the tax codes in this country, Federal and State need a complete overhaul. Way too much of "if this then that" in all of it.

Could not possibly agree more!

 

[Shadowrider]

At this point how much actual credibility are you gonna give our "state" money handlers? LMAO.
The O&G companies know how to spend wisely and overcome adversity in the market.
How well is our "state" doing at that?

Well did you forget that I proposed shutting it down?

 

[Biggsly]

O&G companies have historically averaged around a 10% profit margin at the bottom line. Yes that's an AVERAGE and there are deviations but it's an across the board number for the industry. Sure they report $10,000,000,000 income and that's what everyone fixates on, they choose to ignore the $9,000,000,000 that they spent on operating costs.

You can't explain this to people. I quit trying years ago. It's like trying to explain that all gas and oil are not the same, when it comes to getting them out of the ground. It already cost more here than in some other states, because of the formations. Then we can ban fracKing, which is need to get the shale oil out of the AB in most of Oklahoma. Now they have started working on STACK, which is great for Oklahoma and especially those of us in Kingfisher and Canadian counties. New taxes will slow this down too. You will not hear the dems calling for more from the windmills. "It only takes one to power a whole city....."
In the end, Oklahoma politicians are going to blow whatever they get.

All we need is a
Horse race track. That will save us.......
Casino. That will save us.
A new gasoline tax. That will save us.
If we only had the Lotto. That will save us.
We really need to tax Amazon. That will save us..........

Once these losers get a tax past you quit hearing about it, other than "it didn't bring in what we hope."

 

[Shadowrider]

You can't explain this to people. I quit trying years ago. It's like trying to explain that all gas and oil are not the same, when it comes to getting them out of the ground. It already cost more here than in some other states, because of the formations. Then we can ban fracKing, which is need to get the shale oil out of the AB in most of Oklahoma. Now they have started working on STACK, which is great for Oklahoma and especially those of us in Kingfisher and Canadian counties. New taxes will slow this down too. You will not hear the dems calling for more from the windmills. "It only takes one to power a whole city....."
In the end, Oklahoma politicians are going to blow whatever they get.

All we need is a
Horse race track. That will save us.......
Casino. That will save us.
A new gasoline tax. That will save us.
If we only had the Lotto. That will save us.
We really need to tax Amazon. That will save us..........

Once these losers get a tax past you quit hearing about it, other than "it didn't bring in what we hope."

I know right? It wasn't the tax break we gave O&G that caused the state budget shortfall, things were fine after it passed. It was simply that O&G crashed and the rate didn't matter because there was simply nothing to tax regardless of the rate! How can people be so damn dumb? Since 1907 (statehood) O&G has been dominate economically speaking. There is simply no other industry to even come close. I'd guess agriculture would be next but behind that there's basically nothing. It's always been this way. And dems play it to the stupid like a fiddle...

 

[Shadowrider]

Ahem....

On Nov. 3 Baker Hughes published its weekly report on drilling activity in the United States. This report showed what many in the industry have been saying since the beginning of the year. The uncertainty created around the conversation of raising state gross production taxes will have a negative impact on drilling in Oklahoma. The Nov. 3 report said a total of nine rigs were shut down across the United States, eight of which were in Oklahoma. Another way to say that is during the same period Texas added 3 rigs while Oklahoma lost 8.

http://www.tulsaworld.com/opinion/r...cle_908036f1-4fee-5f7c-8099-ee66e73c85c9.html

 

[CHenry]

We should cater to the interests of big corporations....

F Baker Hughes and their pitty me BS.