This morning Obama
stated that he wants to tax the oil company's at a higher rate than any other
business. He referred to the big oil
company's, but did NOT mention that a lot of the new oil being produced in the
US is not part of the well established
big oil company's.
These smaller oil
company's would also be subject to the higher tax. This tax that he is talking about would
eliminate the wright offs on the new equipment purchased. The majority of this equipment is made in the
USA and if this write off tax is imposed the smaller oil company's would not
have the necessary funds to purchase more equipment.
AS I SEE IT...Less equipment
= Less drilling = Higher pump prices.
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