Sentences with phrase «state oil tax»

A 15 percent year - on - year increase in oil prices in FY19 is likely to raise state oil tax revenues by 0.13 percent of GDP, HSBC estimates.

Not exact matches

Norwegian Cruise Line President and CEO Frank Del Rio speaks about the state of the cruise industry and what things like tax reform and oil prices mean for the business.

The state's oil production grew tenfold over the past decade as it built a thriving oil shale industry virtually from scratch, driving unemployment to a national low and filling government coffers with surging tax revenue.

The more the oil companies pumped, the more tax money the state would receive, and the smarter state politicians would look.

The governor wants legislators to pass his deficit - reduction package, which includes reinstating the state income tax and overhauling the state's $ 50 billion so - called Permanent Fund, which pays the annual dividends every Alaskan receives, representing their share of the state's cumulative oil wealth.

A prolonged downturn in oil and natural gas markets continued to ripple through New Mexico's economy over the summer and into the fall, undermining state tax revenues.

Last month, Governor Jack Dalrymple called for a decrease in the state budget, since tax revenues are down and the budget outlook for the state is different from two years ago, when the price of oil was topping $ 100 per barrel.

A large energy producer, Wyoming collects oil production taxes to offset its lack of state income tax.

In theory, such choices are designed to attract other industries to the province in much the same way that Texas, which has no state income tax, tries to use its oil revenues to convince companies in footloose industries, like electronics, to set up shop in the state.

Although the state had a modest increase in its gas tax in 2017 — less than 1 cent per gallon — it is crude oil prices and natural disasters that determine pricing overall.

It was a shame that the State Department has entrusted this snake oil salesman to go to other muslim countries to build bridges at the US tax payer's expense.

Third, every country, state, and region has resources — extremely valuable resources — but we don't think of them the way we do of gas and oil because we're so used to governments giving them away to corporations who sell them back at a profit and pay very little in taxes.

Texas: As of November 2015, state tax revenues from oil and natural gas production plummeted 48 % and 51 %, respectively, versus a year ago, according to the state comptroller of Texas.

To get there, the state would use a tax it already levies against companies that transport oil through New York.

If the anticipated growth in jobs and income in the oil and gas industry does not occur, then the desired indirect and induced economic impacts will not occur, and local and state tax revenues will not grow as hoped.

It also has been attacked fervently via state campaigns as an energy tax by groups like Americans for Prosperity, a group co-founded by oil billionaire David Koch.

Building a bridge for the Clean Power Plan In addition to the spending and tax provisions, Congress also formally lifted a ban on U.S. crude oil exports, something Republicans and oil - state Democrats had sought.

Proposed repeal of oil - industry tax breaks White House budget documents re-emphasize Obama's proposals to end billions of dollars in oil industry tax breaks — plans that face stiff resistance on Capitol Hill from oil - state Democrats and most Republicans.

In the same way as the Norwegian state takes 78 % of oil revenues in tax, it must also bear an equally large share of the costs involved in activities such as exploration and the plugging of wells.

May 7, 2012 • Cash - strapped states are embracing the millions of dollars in new tax revenue coming from shale oil and gas development.

I can't believe that, with headlines stating potential tax hikes for oil burners in response to the nation final realisation that diesels produce too many nasties, Mercedes seem to think that it's okay for an entry - level petrol family estate to be a 400hp AMG monster with a price tag suitably stratospheric.

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Simpletons and Bush / Mcbush apologists also feel that ethanol which is LESS efficient than ordinary gas, is a GREAT idea, even as it creates the world's largest dead zone in the Gulf, offshore drilling is THE answer despite anyone w / a brain stating that this capacity won't come online for 30 years and which will produce about three weeks» worth of oil at our country's CURRENT rate of use, and that some silly gas tax reprieve, which will cost us in infrastructure improvements and lost jobs, is a good thing....

«A tax on oil production in the United States?

There's lots of overlap between ending our oil addiction in the United States and combatting climate change, with setting a price on carbon (regardless of the mechanism used, be it cap and trade, a carbon tax, or something

To be more precise, the United States should implement steep carbon taxes that hit coal, heating oil, and natural gas.

But rather than lowering an existing tax, it relies on a so - called tax - and - dividend model: As the state of Alaska does with oil revenues, revenues from the Council's national carbon tax would be returned equally to all American households in quarterly «dividends» digitally deposited in Social Security accounts.

Initiative 732, which sought to apply a tax on energy - derived coal, oil gas garnered just 42 percent after ballot counts around the state, including an early Wednesday update in King County.

In Pennsylvania, a state that's been heavily fracked, former governor Tom Corbett bent over backwards to give ridiculous tax breaks to Big Oil and Gas in exchange for campaign contributions.

Ben van Beurden, the Shell chief executive, has repeatedly stated that the fossil fuel giant is a responsible company that fully accepts the need to counter manmade global warming, has campaigned for a tax on greenhouse gas emissions, and is moving its focus from oil to cleaner fuels such as gas.

If you try to link it to the issue of AGW in order to reduce consumption of oil and thereby reduce emission of CO2 it becomes an issue of the «efficiency of the proposed tax system»; both in terms of collection of revenues and in achieving the stated goal of reducing emissions of CO2.

A British newspaper claims to have discovered the convoluted way oil billionaires in the United States can funnel huge amounts of cash toward climate change - denial campaigns, while reaping tremendous tax advantages in the process.

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The federal Petroleum Resource Rent Tax (PRRT) has replaced state royalties for new offshore oil and gas, so Victoria would not receive any royalty income from the new Dory gas project.

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This will hopefully lead to utility - scale renewables finally finding purchase in states where the finances simply were not appealing when compared to tax breaks the utilities could get for developing coal, oil and gas.

Wolf campaigned on a platform of instituting a 5 percent extraction tax on oil and gas drilling in Pennsylvania, arguing that the money raised — an estimated $ 1 billion annually — would help boost state education funding.

Another progressive approach is to rebate the carbon tax revenues equally to all U.S. residents — a national version of the Alaska Permanent Fund, which for decades has annually sent identical checks to all state residents from earnings on investments made with the state's North Slope oil royalties.

In Ohio, where Sierra Club and other anti-nuclear groups chose coal over nuclear in the 1970s, nuclear plants pay over ten times more in taxes per unit of energy than oil and gas producers, and are excluded from the state's renewable portfolio standard.

From property taxes that supply revenue for schools, to state and local taxes that fund road and bridge improvements, water and sewer projects, local housing initiatives and environmental programs, to even royalty payments that can sustain family farms and businesses — oil and natural gas development generates local economic benefits well beyond producing affordable, reliable energy.

So basically, renewable energy supporters can have your tax credits, if offshore oil supporters are allowed to pump dry every single last drop of oil in the continental United States.

In the United States, current subsidies and tax incentives for the development of oil, coal and natural gas amount to about 20 billion dollars a year.

(07/13/2012) Former Secretary of State George Shultz is calling for a carbon tax to reduce U.S. greenhouse gas emissions and oil consumption, according to an interview released today by Stanford University.

«Indeed, since 1981, when the failed windfall profits tax was first enacted, federal, state, and local governments in the U.S. have collected more in taxes from the oil industry than the industry has earned in actual profits for its shareholders.

This could all be coming to an end, though: with the heavy drop in oil prices recently, the state is considering reinstating its income tax collection.

Mineral interests such as oil and gas are eligible for a 1031 exchange deferring federal and state capital gain taxes given the transactions satisfy the Internal Revenue Code Section 1031 requirements.