Green Policies cost the Government Billions in revenue
May 3, 2011 11:51pm CST
As gas now goes over the $4.00 mark we are told that we must use alternative energy. There is a ban on off shore drilling, permits are being denied or the process is being dragged out so long that in effect there is still very little drilling or new exploration. The ban on drilling is one of the factors causing record high gas prices. The other effect is what it is costing the government. It is estimated that the government is losing $6 Billion dollars by not selling more leases to drill for oil. For all the oil produced in the country the government collects 18.75% in royalties. In 2008, the US Government collected $8.3 billion in royalties, and received $9.4 billion for bids on new leases, for a total of $17.7 Billion. In 2010 the government only received $979 million in new leases or the government lost close to $8.4 Billion dollars. In 2009 the government received closet to $6 Billion from leases royalties and rent. These figures do not count the losses to the people who are employed by the oil companies and the taxes paid to state and local units of government. http://news.newsmax.com/?Z6CvYYejEz4j9Aie7WqD36E-DxbztfR1Z How long can the government keep losing money like this while the economy is tanking?
1 person likes this
• Boston, Massachusetts
4 May 11
Not enough money? Tax the rich some more! Somehow, this president and the liberals who support him believe that is the answer to all problems. Tax more on more rich people. Whether there will be any rich people in the future or not doesn't seem to concern them. There can be no doubt that this administration's energy policies are not designed to meet our energy needs nor boost our economy. Instead they are designed to force us into accepting a green agenda by making traditional sources of energy too expensive or difficult to obtain through regulation. Again, it comes down to whether the president's loyalties belong to the nation or to his political ideology and agenda. I think its the latter.
• United States
5 May 11
He is so blinded by ideology that he thinks he is doing the right thing. IF you tax the rich more they will work more and pay the taxes, if you tax business more they will pay the taxes (he does not see that the tax is passed on), if you allow the gas to go to $6,00 a gallon people will rush out and buy electric cars, erect windmills and install solar panels and we will all be living green and happy. He is living in la-la land.
• United States
5 May 11
We do need to look at energy that isn't going to rely on Oil as well oil is a limited resource and will go away at some point but until then we do need to Drill as much as this stuff up as possible but also ensure that the safety rules are being followed and if a company is found in violation of either OSHA or EPA regulations they should be at risk for not only being fined Billions of Dollars but also losing that lease to another company for a bid with the starting bid being only slightly lower than the original bid. This would make sure that companies that do go for these leases know that they are putting a lot on the line and that they need to make the investments needed to ensure every possible safety feature is their to stop both a repeat of BP's mess and also to ensure the environment isn't left in a long term damaged or destroyed state. We need to start selling our oil and making the profit while we still can as it will go away at some time and when it starts to dwindle down people will move quickly to green or alternate fuel sources which the United States needs to get ahead of the curve on so that we can make the profit when other countries are trying to greenify their power supplies. So we can make some money off of them. Lets think of the future.