Former Soviets: Cut taxes! Increase Oil Drilling!

[Andy]

It's amazing how the tables have turned. While the American idiots march off towards socialism, complain about tax cuts, and hinder our oil industry, while complaining about imported oil....

Russia has a new idea! Completely new, seemingly untested theory, that could be called Conservatism!

To get production growing again, Putin has pledged billions of dollars in tax cuts for the industry. The biggest change is a lower tax on production, which would result in an extra $4 billion in oil company coffers each year. An additional $3 billion in benefits would come from tax holidays of up to 15 years for major projects in remote regions. In late June, the Parliament is expected to approve both adjustments, which would take effect next year. Oil "was so obviously overtaxed that they had to do something," says Ronald P. Smith, head of research at Alfa-Bank in Moscow.

Huh... they seem to think that companies having "capital" to invest in new oil wells, (capitalism) will both increase oil production and boost the economy! Since they came out of Socialism, they might know what works and doesn't now.

Of course this is in contrast to the brilliant American policy of taxing the oil industry. Wind fall taxes will of course spur economic growth and oil production.

 

[Mr. Shaman]

It's amazing how the tables have turned. While the American idiots march off towards socialism, complain about tax cuts, and hinder our oil industry, while complaining about imported oil....

Huh... they seem to think that companies having "capital" to invest in new oil wells, (capitalism) will both increase oil production and boost the economy! Since they came out of Socialism, they might know what works and doesn't now.

Yeah....everyone's got their version of Big Oil. ​

 

[Andy]

Yeah....everyone's got their version of Big Oil. ​

And Russia sees it's oil industry as an asset to their country, and to their economy. Which is why they are generally doing better than we are. The Russian economy has been growing at an average of 7% per year since 1998, while we have barely made 3% since 2003.

While our people stupidly attack successful industries with taxes and regulations, the Russians (learning from their socialist mistakes) are supporting and growing theirs with fewer controls and reduced taxes.

 

[Pandora]

Thank you for the post Andy, it gives me hope that someday we will remove our heads from our butts and get back to it.

 

[Mr. Shaman]

While our people stupidly attack successful industries with taxes and regulations.....

Name 5 o' those successful industries. ​

 

[Andy]

Name 5 o' those successful industries. ​

Exxon, Wal-Mart, Halliburton, Standard Oil, Microsoft, AT&T, and hundreds more.

Of course GM was attacked repeatedly when it was successful. Now, due to unions, it's failing, and we're still attacking it.

 

[Mr. Shaman]

Exxon, Wal-Mart, Halliburton, Standard Oil, Microsoft, AT&T, and hundreds more.

.....And, (exactly) which taxes and regulations are hurting them?? ​