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Rants, musings and humor from a lost soul in Alabama |
Sorry, BobBob Riley’s bill that would have raise taxes on offshore natural gas wells has died in the legislature. It was estimated that it would have raised $40 million in state revenue. It was either going to stick it to evil energy companies or make energy more expensive, depending on who you talk to.
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Comment by Peter
Only 40 bucks? Hardly seems worth the effort…
Comment by Dan
Ha ha. I fixed it.
Comment by Publius
raising the severance tax would not raise local rates in alabama. the resources mined or captured off our coast, enter the global commodities market and is discounted accordingly. for the legislature to not pass this bill is akin to giving corporations a free pass on multi millions of dollars per year. But, these same scholarlegislators want to control smoking and grocery taxes? See, can yall begin to see how fugged up and dysfunctional, not to mention economically illiterate our government is?
Part of the problem is the employees in the state house and senate. these people have been there for 40 years in most cases. ever heard of regulatory capture? Im not saying they are on the take, but even puerto rico has legislative staff that understand economics, not whiskeynomics.