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| Opinion/Editorial |
The title of their Fourth oped is "A Big Whine From Big Oil."This is really hypocritical we never hear the NYT refer to their left wing buddies in the labor movement referred to as 'Big Unions" we never ever hear it.
Their salvo begins with "With gas at $4 a gallon, oil at $100 a barrel and profits at near-record levels, it is hard to feel sympathy for the oil industry. Yet sympathy is what the C.E.O.’s of the five biggest companies asked for when they appeared Thursday before a Senate hearing on a Democratic proposal to eliminate about $2 billion in tax breaks for the Big Five.
Exxon’s Rex Tillerson called the proposal “misinformed and discriminatory.” ConocoPhillips’s James Mulva, in a letter, called the idea “un-American” because it would supposedly cost American jobs, raise consumer prices and discourage investment — a position he reasserted during the hearings.
The other three companies at the witness table, BP America, Shell and Chevron, raised similar complaints. How absurd are their claims? Utterly absurd."
Let me make the correction near record levels of profit because they are over taxed and can't turn a profit and due to BS environMENTAL regulations they can't DRILL for oil.I agree 100% that it is un-American and that it is a fact that it will cost jobs and discourage investments.You are the absurd ones NYT!
They continue their rants through alleged BS research "Take investment. In 2005, with oil nearing $60 a barrel, Mr. Mulva and other top executives told a Senate committee that the companies did not need the tax breaks to keep exploring for oil. Congress left them in place. Now that the Senate seems serious about getting rid of them, he and his colleagues have changed their tune — even though their companies obviously need them even less at $100 a barrel.
Or take prices at the pump. In a memorandum to Senate Democratic leaders on Wednesday, the nonpartisan Congressional Research Service said that eliminating the tax benefits would have virtually no effect on the price of gasoline. The impact on industry profits — the Big Five earned a robust $35 billion in the first quarter of this year alone — would be trivial.
The report also addressed one more industry claim: that ending the tax breaks for the oil companies alone would be discriminatory. Most of the breaks — deductions for well depletion, intangible drilling costs and the like — are unique to the industry. The exception is a deduction for domestic production, designed to encourage all manufacturing companies to invest in this country. But as the research service pointed out, industry is not going to stop drilling on American territory as long as the oil is there and yielding big dollars.
These subsidies are clearly unnecessary, and returning $2 billion to the Treasury would be a good thing. But more than anything, one has to wonder why the oil companies are fighting so hard for a comparatively small amount of cash, at least for them. The only explanation we can come up with is that they have always gotten what they wanted and expect to do so now, so why not?"
Return the subsidies to the Treasury give me a break if that was the case with their uninformed BS research return the $$$ to the American people.
But when it comes to doing something that needs to be done the NYT is against it "The House is certainly tripping over itself to do the industry’s bidding. Last week, it passed two more irresponsible bills accelerating drilling permits and authorizing leasing in long-protected waters of the north and central Atlantic coasts, the Southern California coast and Alaska, including Bristol Bay. It is as if the BP spill in the Gulf of Mexico had never happened."
Irresponsible to pass drilling permits since when.I love this part this is th environMENTAL regulation that I referred to earlier "authorizing leasing in long-protected waters of the north and central Atlantic coasts, the Southern California coast and Alaska, including Bristol Bay."
Yeah protected waters my ass.So if this is the case I don't want to hear liberals and President Obama and the little whinny assholes at the NYT Opinion Editorial board to complain on the U.S. relying on foreign sources for our oil and gasoline.
Their salvo begins with "With gas at $4 a gallon, oil at $100 a barrel and profits at near-record levels, it is hard to feel sympathy for the oil industry. Yet sympathy is what the C.E.O.’s of the five biggest companies asked for when they appeared Thursday before a Senate hearing on a Democratic proposal to eliminate about $2 billion in tax breaks for the Big Five.
Exxon’s Rex Tillerson called the proposal “misinformed and discriminatory.” ConocoPhillips’s James Mulva, in a letter, called the idea “un-American” because it would supposedly cost American jobs, raise consumer prices and discourage investment — a position he reasserted during the hearings.
The other three companies at the witness table, BP America, Shell and Chevron, raised similar complaints. How absurd are their claims? Utterly absurd."
Let me make the correction near record levels of profit because they are over taxed and can't turn a profit and due to BS environMENTAL regulations they can't DRILL for oil.I agree 100% that it is un-American and that it is a fact that it will cost jobs and discourage investments.You are the absurd ones NYT!
They continue their rants through alleged BS research "Take investment. In 2005, with oil nearing $60 a barrel, Mr. Mulva and other top executives told a Senate committee that the companies did not need the tax breaks to keep exploring for oil. Congress left them in place. Now that the Senate seems serious about getting rid of them, he and his colleagues have changed their tune — even though their companies obviously need them even less at $100 a barrel.
Or take prices at the pump. In a memorandum to Senate Democratic leaders on Wednesday, the nonpartisan Congressional Research Service said that eliminating the tax benefits would have virtually no effect on the price of gasoline. The impact on industry profits — the Big Five earned a robust $35 billion in the first quarter of this year alone — would be trivial.
The report also addressed one more industry claim: that ending the tax breaks for the oil companies alone would be discriminatory. Most of the breaks — deductions for well depletion, intangible drilling costs and the like — are unique to the industry. The exception is a deduction for domestic production, designed to encourage all manufacturing companies to invest in this country. But as the research service pointed out, industry is not going to stop drilling on American territory as long as the oil is there and yielding big dollars.
These subsidies are clearly unnecessary, and returning $2 billion to the Treasury would be a good thing. But more than anything, one has to wonder why the oil companies are fighting so hard for a comparatively small amount of cash, at least for them. The only explanation we can come up with is that they have always gotten what they wanted and expect to do so now, so why not?"
Return the subsidies to the Treasury give me a break if that was the case with their uninformed BS research return the $$$ to the American people.
But when it comes to doing something that needs to be done the NYT is against it "The House is certainly tripping over itself to do the industry’s bidding. Last week, it passed two more irresponsible bills accelerating drilling permits and authorizing leasing in long-protected waters of the north and central Atlantic coasts, the Southern California coast and Alaska, including Bristol Bay. It is as if the BP spill in the Gulf of Mexico had never happened."
Irresponsible to pass drilling permits since when.I love this part this is th environMENTAL regulation that I referred to earlier "authorizing leasing in long-protected waters of the north and central Atlantic coasts, the Southern California coast and Alaska, including Bristol Bay."
Yeah protected waters my ass.So if this is the case I don't want to hear liberals and President Obama and the little whinny assholes at the NYT Opinion Editorial board to complain on the U.S. relying on foreign sources for our oil and gasoline.
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