Oklahoma spends 1/3 of its budget on corporate tax incentives!

[HMFIC]

And yet which state has a better financial record?

That's why I posted it. To show the irony and the idea that this figure in itself doesn't necessarily mean anything.

I am sick of the amount of my taxpayer dollars thrown to what amounts to wolves running the henhouse.

 

[Coded-Dude]

That's why I posted it. To show the irony and the idea that this figure in itself doesn't necessarily mean anything.

I am sick of the amount of my taxpayer dollars thrown to what amounts to wolves running the henhouse.

It's a catch-22 of sorts. These incentives certainly help these businesses stay and stay in business(and potentially hire more people). The policy, as stated, is the exact opposite in CA(they are tax raped and thus can't afford to continue doing business or hire new people, while all the tax money goes to welfare recipients and union pensions).

I think there could and should be a better balance though.....

 

[FlimFlam]

I'm confused. If they're hitting product with a 99.8% success rate why do they need any other incentive to keep drilling?

The original intent may have been to allow deductions because of drilling a dry hole. However, as the price of oil has risen, more hard to get oil has become economically feasible. It's not just making sure you drill with confidence, but how much does it cost to drill a horizontal hole vs how much you'll get back and how soon.

Just my opinion.

 

[JB Books]

Oklahoma is one of the most corporate friendly states in the country. It's been that way for a long time. Some call it friendly. Others call it state government bought and paid for.

Yes and every session, they are eliminating your rights to redress grievances against their corporate masters. But you guys keep voting for them.

 

[poopgiggle]

The original intent may have been to allow deductions because of drilling a dry hole. However, as the price of oil has risen, more hard to get oil has become economically feasible. It's not just making sure you drill with confidence, but how much does it cost to drill a horizontal hole vs how much you'll get back and how soon.

Just my opinion.

Apropos of nothing, this distorts the energy market by making oil artificially cheap, which in turn reduces demand for other energy sources. We're gonna be kicking ourselves when the oil runs out!

 

[RickN]

Yes and every session, they are eliminating your rights to redress grievances against their corporate masters. But you guys keep voting for them.

Just shows we are smarter then your average lawyer.

 

[FlimFlam]

Apropos of nothing, this distorts the energy market by making oil artificially cheap, which in turn reduces demand for other energy sources. We're gonna be kicking ourselves when the oil runs out!

I agree to an extent. However, America has seen great prosperity in the past by having cheap readily available energy. We should work towards renewable or alternate forms of energy in general, but we do have subsidies for those as well currently. Should we handicap our current sorry economy by increasing oil prices? Its the consumers that will feel any price increases the most.

 

[JB Books]

Just shows we are smarter then your average lawyer.

Until you or your family member are screwed royally by one of these new laws.

 

[Coded-Dude]

Apropos of nothing, this distorts the energy market by making oil artificially cheap, which in turn reduces demand for other energy sources. We're gonna be kicking ourselves when the oil runs out!

Didn't they just find like 3 trillion barrels worth of recoverable oil in CO and UT? It's under shale, but all the proven oil reserves in the world don'd add up to the amount they just found right here in the US.

 

[RickN]

Until you or your family member are screwed royally by one of these new laws.

We have been screwed more by lawyers.