Obama has made an impression on the O&G industry, well not a good one. It seems there is a Bill he is trying to pass called FY2010, this would add $30 Billion to the Petroleum Industries Tax bills. This means an economy which is in turmoil because of LENDING will further be stressed by the only thing keeping it afloat, and thats on the lip!
Everyone will be affected by this bill, lenders, retailers, operators to Grandma buying lipstick! Yeah the ol trickle down effect! So please sign the petition, I'm just a messenger, its worthy of spreading around this info especially if your working in a petroleum related business.
http://www.loga.la/stop-obama-tax-increase.html
Raising taxes on our natural resources is not the answer. If we want to stimulate the economy we need to drill here in the US. If we over tax our natural resources they will just go somewhere else to drill, and then we won't get any of that revenue. Think about it: China is drilling off the coast of Florida, but we don't get any of the revenue from that, and they are starting to use there own people to drill. We don't see any revenue from that, but we do purchase oil from them. Wait is that correct they drill off the coast of Florida, they don't have to abide by our environmental laws, and then we have to pay them for the resources that our government blocks us from using?
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