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I've inherited 135 acres' just west of Bakersfield. Been vacant for years. Kept the taxes paid. Oil companies confirmed oil but to deep to drill, 25 years ago. Ultimate wisdom of Califucinfornia legislature environmentally protected my land. How do you like that! Farming going on all around it. 2 miles from the Navies oil reserve. Today it may not be to deep to drill under the circumstance.
Irvine company offered me $500 per acre. Asked if they n\knew it was protected. I think they played stupid knowing they could get it cheap then lobby the government to rescind the law. I'm still holding the property as it's always been my ace in the whole for the future of my kids.
Love my country, fear my government.
Gasoline in the US is a bargain. Go to Europe where they pay 6 and 7 dollars for a gallon of gas.
The oil companies make about 6 cents a gallon profit. The federal government tax on a gallon is 18 cents on a gallon. Liberal states like NY, NJ, CA tax a gallon at over 30 cents a gallon. Now, who is shafting who. Plus, Exxon pays more corporate taxes than any company in the US. Chevron comes in at 3rd. Look it up dummies. These are the FACTS.
Remember the green initiative that was going to reemploy America in the jobs of the future.
The best federal tax breaks or incentives are for geothermal, solar and wind mills.
If the government wanted the oil out of the ground, they would have more tax incentives for drilling.
It is worth more to the oil companies to keep it in the ground. And that is just fine with the government.
The oil companies and the government have to share the blame.
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[BRIEFING.COM] Recent action saw the key indices inch to fresh lows for the session. Including today's decline of 0.8%, the S&P 500 is lower by 0.5% so far in September. Despite the loss for the month, the benchmark index has fared a bit better than its higher-beta peers. On that note, the Nasdaq has given up 1.3% so far this month, while the Russell 2000 is down 3.7% for the month. Elsewhere, the price-weighted Dow (-0.5%) trades ahead of the broader market today and is up 0.6% for the ... More
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