Wrong. I've been bitching about government hand outs to oil companies for years.
Not a single oil company expanded exploration and drilling after the tax credits. They did, however, greatly expand their wallets to hold the profits. On Tue, Oct 28, 2008 at 7:35 PM, Robert Munn <[EMAIL PROTECTED]> wrote: > Funny, no one complained about the oil companies when oil was $15 a barrel. > Oil prices, in inflation-adjusted dollars, were at fifty-year lows just a > few years ago. So oil prices shot up and the oil companies made a bunch of > money- good for them. Now that the global economy is cratering, oil is > plummeting. We may see $40 a barrel before the end of the year. > > Oil is a cyclical business, it always has been. Tax credits encourage > exploration and development in bad times and good. We need oil, there is no > getting around it in the short term, and tax credits are one tool the > government can use to encourage investment in the industry. > > One thing we should have is comparable tax credits for all alternative > energies. I don't know offhand what that landscape looks like, but we need > to be encouraging ALL energy investment, particularly clean energy like > solar, wind, and nuclear. > > > > On Tue, Oct 28, 2008 at 6:54 PM, Maureen wrote: > >> The greatest re-distribution of wealth in history has been from the >> pockets of the working people to the pockets of the oil companies, who >> continues to receive tax credits in the billions. >> >> Why that doesn't bother so-called conservatives baffles the hell out of me. >> > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:277168 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
