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OIL SPILL: Where has oil tax money gone?

Letter by Jayne Nilsen, Fox Island on June 10, 2010 at 12:41 pm with 4 Comments »
June 14, 2010 9:13 am

Democrats are proposing an increase in the offshore oil tax to five times the current rate (TNT, 6-9). If the oil companies have been paying a tax of 8 cents a barrel for the past several decades, where is all that money? There is supposed to be a dedicated account that uses this money for just the type of oil disaster that we now have in the Gulf of Mexico.

Why is nobody asking any questions about all this money in this fund?

Actually, I probably know the answer. Congress has cleaned out the account to pay for other things that have nothing to do with oil but everything to do with creating more and bigger government.

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  1. Sumner401 says:

    Oil companys pay no taxes, they get billions of tax deferments every year.
    There is no “oil tax money” never has been.

    The fund you are talking about is a clean up fund, to be used incase the oil company weasels out of paying for th damage they cause, and you know BP will.

  2. Jayne, “probably” is an easy accusation bordering on nonsense. how about something factual? Oh yes. That will take too much time.

  3. Roncella says:

    Jayne, I have an easy solution to your questions and comments. Get registered and vote Out the big spenders this November. Give them an early retirement.

    Put elected officials in office who will look out for the best interest of the citizens first and be responsibile for running the Government without bankrupting it.

  4. Jayne The government’s own bank account balance proves you are EXACTLY right. Good work.

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