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N.D. Senate: Lower oil extraction tax

The Jamestown Sun -- BISMARCK — As lawmakers debate whether North Dakota’s oil taxes need tweaking, a recent study suggests the state sits in the middle of major oil-producing states when it comes to oil taxation.

The Republican-controlled Senate on Tuesday approved a bill that would reduce the state’s oil extraction tax rate from 6.5 to 4.5 percent, despite strong objections from Democrats who argue the tax cut is unnecessary.

The lower rate approved in Senate Bill 2336 would take effect for new oil wells drilled starting in 2017, or if the average statewide daily production exceeds 1 million barrels per day for three consecutive months, whichever comes first.

One Democrat, Sen. David O’Connell of Lansford, voted in favor of the extraction tax cut in the 34-13 vote.


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Submitted Mar 03, 2013 By: drpepperTX
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: N.D. Senate: Lower oil extraction tax Back to Topics
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tomok
Champion Author Portland

Posts:43,909
Points:2,957,610
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Message Posted: Mar 21, 2013 3:56:31 AM

N.D. Senate: Lower oil extraction tax? NO Lower Taxes!
Most of the oil produced will be processed into fuel and be exported for higher prices!
Big Oil and Big Gas sells fuel and natural gas on the world market!
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - *$3, *$3.50/gallon or *$4.00 is Not the new low!
More Refineries are Not the answer, Stop exporting fuel is!
Then the refineries produce less fuel, create a fuel 'shortage' and prices at the pump go up too.
Take care of the domestic fuel market first and above all else, then think about exporting!
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
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honda0105
Champion Author Tallahassee

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Message Posted: Mar 8, 2013 12:04:04 AM

rj: you're right, lots of waste and fraud in any political entity, esp. federal budget, but it goes down to the community level. That's where corruption and fraud starts.
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rjhenn
Champion Author Des Moines

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Message Posted: Mar 7, 2013 12:25:39 PM

drpepperTX - "Just because a tax is lowered does not mean services cannot be rendered Honda. it's a spending problem, not a tax revenue problem."

Often it's both.

"If those demanding higher taxes could realize the waste they'd understand that."

There is easily enough duplicate effort, waste and fraud in the federal budget to make up for the sequestration.

"But the gimme something for nothing, class envy folks just can't see it."

You're talking about both the Republicans and the Democrats, of course.
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drpepperTX
Champion Author Texas

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Message Posted: Mar 7, 2013 12:16:40 PM

Just because a tax is lowered does not mean services cannot be rendered Honda. It's a spending problem, not a tax revenue problem. If those demanding higher taxes could realize the waste they'd understand that. But the gimme something for nothing, class envy folks just can't see it.
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honda0105
Champion Author Tallahassee

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Message Posted: Mar 7, 2013 12:01:45 AM

everyone says, lower taxes on this and that and yonder. And how are all the services provided by governments to be paid for?
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LetemEatCake
Champion Author Oklahoma City

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Message Posted: Mar 5, 2013 11:19:58 PM


Taxes are now one of the lowest in the nation! Somebody is in Big Oils pocket!
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jtravis711
Veteran Author Orange County

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Message Posted: Mar 5, 2013 10:13:38 AM

@Aviator Rob, how about you go into work tomorrow and tell your boss you want to pay more taxes so your kids will have services provided for them by government, or if your in business for yourself how about telling your customers that you need to charge them a higher tax on your services so you can pass that on to the government to have those services for your children. Those being all those good services provided not the wasteful, useless ones...right. We are seeing a sensible response to this issue by the responsible Representatives in North Dakota. A fair tax to keep business and growth in the state and still provide needed services to the citizens.
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rjhenn
Champion Author Des Moines

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Message Posted: Mar 5, 2013 1:16:54 AM

Just the Dems?
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snerd
All-Star Author Pennsylvania

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Message Posted: Mar 4, 2013 8:29:59 PM

The Dems can never get enough money.
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jrs4125
Champion Author Indiana

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Message Posted: Mar 4, 2013 8:19:12 AM

Increase tax.
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gravityhurts
Champion Author North Carolina

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Message Posted: Mar 4, 2013 7:33:22 AM

Again?
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FBI2991
Champion Author Michigan

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Message Posted: Mar 4, 2013 7:28:34 AM

Every article today was at least a day old. Some 2 and 3 days old.
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remay
Champion Author Houston

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Message Posted: Mar 4, 2013 6:50:05 AM

Why? Hasn't seemed to help the pump prices and with INCREASED production...
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dougtaylor1
Champion Author Phoenix

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Message Posted: Mar 4, 2013 12:30:58 AM

Someone is in big oil's pocket.
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VikingWoman
Champion Author Washington

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Message Posted: Mar 4, 2013 12:30:15 AM

It's manure and it encourages growth.
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wz
Champion Author Twin Cities

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Message Posted: Mar 4, 2013 12:24:08 AM

North Dakota hasn't bought into the socialist-welfare mentality, and by keeping taxes low, they don't collect revenue excesses that governments invent ways to spend to make the people dependent on government, instead of letting them be self-sufficient and independent.
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Aviator_Rob
Champion Author New York

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Message Posted: Mar 4, 2013 12:10:12 AM

The drillers are already coming to North Dakota, @CISA. No need to lower the tax to entice more.
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Aviator_Rob
Champion Author New York

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Message Posted: Mar 4, 2013 12:08:53 AM

@72_monte got it right when he wrote, "They'd better collect now, because their children sure as heck are going to be stuck with the clean-up bills down the road."
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Aviator_Rob
Champion Author New York

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Message Posted: Mar 4, 2013 12:07:52 AM

Everyone loves lower taxes until they look around and see all of their services are gone, @Beaveronparade.
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Aviator_Rob
Champion Author New York

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Message Posted: Mar 4, 2013 12:06:40 AM

Ummm, @clermont40miles? The article was about North Dakota LOWERING the oil tax, not raising it.
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Tsunamiron
Champion Author Jacksonville

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Message Posted: Mar 4, 2013 12:05:30 AM

Ok. That is fine for North Dakota. What about the other 49 states? Higher taxes and higher gas prices?
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Aviator_Rob
Champion Author New York

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Message Posted: Mar 4, 2013 12:05:20 AM

Alaska has a 25% oil tax? If the reddest of red states has an extraction tax at that level, perhaps the Republicans should take notice and listen.
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mcbrownie220
Sophomore Author Toledo

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Message Posted: Mar 4, 2013 12:05:05 AM

ok
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SkooterG
Champion Author Phoenix

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Message Posted: Mar 4, 2013 12:03:33 AM

If they are in the middle, why reduce? Follow the money.........
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Toppers
Champion Author Atlanta

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Message Posted: Mar 4, 2013 12:03:21 AM

Good for ND!
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bluegrasser1
Champion Author Richmond

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Message Posted: Mar 4, 2013 12:02:00 AM

ok
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rahcat
Champion Author Grand Rapids

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Message Posted: Mar 4, 2013 12:01:48 AM

Old News
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RevDrCBJ
Veteran Author Ann Arbor

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Message Posted: Mar 4, 2013 12:01:21 AM

What's wrong with this picture?
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CCLighthouse
Champion Author Hartford

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Message Posted: Mar 4, 2013 12:00:47 AM

Thanks for lowering it!
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lowspeed
Champion Author Akron

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Message Posted: Mar 3, 2013 11:58:08 PM

No new taxes
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gd83goldwinger
Champion Author South Bend

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Message Posted: Mar 3, 2013 11:56:05 PM

Really, raise our taxes, but lower the greedy theres something wrong with this picture?
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mdskier
Champion Author Sacramento

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Message Posted: Mar 3, 2013 11:53:09 PM

More $$$$ to his greedy fat cat oil baron buddies.
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PrettyLittleLady
Champion Author Modesto

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Message Posted: Mar 3, 2013 11:52:02 PM

soo.o.
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FlyNFool
Champion Author South Carolina

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Message Posted: Mar 3, 2013 11:49:23 PM

Watch the boom!
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CiVX
Champion Author Oakland

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Message Posted: Mar 3, 2013 11:49:19 PM

Stop giveaways to big oil. They steal from us and kill us let them pay.
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waynemustang
Champion Author Indiana

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Message Posted: Mar 3, 2013 11:47:55 PM

yes, lower taxes.
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UpSol7
Champion Author Augusta

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Message Posted: Mar 3, 2013 11:46:48 PM

yawn
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us4usa
Champion Author Missouri

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Message Posted: Mar 3, 2013 11:43:04 PM

Same in DC one side wants lower taxes and the other side wants higher taxes...
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bvrbill
Champion Author Eugene

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Message Posted: Mar 3, 2013 11:38:49 PM

Big Oil needs to pay.
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Brucevanf
Champion Author New Brunswick

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Message Posted: Mar 3, 2013 11:38:40 PM

Bring it on.
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ExplorerWA
Champion Author Washington

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Message Posted: Mar 3, 2013 11:36:23 PM

Lower it.
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TheSnowstorm
Champion Author Montreal

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Message Posted: Mar 3, 2013 11:31:13 PM

Lower taxes for corporations and raise it on the public taxpayers.
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Ken825
Champion Author Pennsylvania

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Message Posted: Mar 3, 2013 11:26:02 PM

Seeings how they are pumping a ton more everyday, they should lower it.
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clermont40miles
Champion Author Cincinnati

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Message Posted: Mar 3, 2013 11:23:28 PM

If it moves they tax it.

If it doesn't move, they tax it.

Taxed
Enough
Already
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abcdMA
Champion Author Worcester

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Message Posted: Mar 3, 2013 11:23:25 PM

good idea--
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chillyman3
Champion Author Illinois

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Message Posted: Mar 3, 2013 11:19:48 PM

that is hard to believe
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Chris46
Champion Author Dayton

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Message Posted: Mar 3, 2013 11:18:36 PM

Good for one state should be good for all states
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veemotors
Champion Author Alberta

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Message Posted: Mar 3, 2013 11:17:09 PM

reducing a tax??? wow. disbelief
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wshokie12
Champion Author Winston-Salem

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Message Posted: Mar 3, 2013 11:12:12 PM

Ok.
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rjhenn
Champion Author Des Moines

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Message Posted: Mar 3, 2013 11:11:33 PM

Feed the rich, starve the poor.
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