Government, Taxation and Minerals

I wonder, wtih the current state of economy and defcit, when the tax and spend leaders of our country will increase taxation on our  privately held minerals... I read an article where Russia took their peoples minerals through taxation.   Would love to hear much smarter people , spin on this, and what long term looks like on this subject. JWP

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Permalink Reply by Mac Davis on January 26, 2011 at 5:13

Shhh!!!! Don't give them any ideas. 

 

I'm sure that at some point they'll start doing more and more of this.  They'll claim that most of the minerals are owned by big oil companies and evil rich people and that it's only fair that we use our country's natural resources to benefit all of us by putting the government in charge instead of letting the fat cats exploit the environment. 

 

This is one case where the big oil companies and other bigwigs who pay their bribes to Congress are actually helping somewhat to protect all of us to some extent from the government.

Permalink Reply by P.G. on January 26, 2011 at 6:05
Do big oil companies care who owns the mineral rights? They can lease them from the gov as easily as from an individual can't they? Imagine the hassle of leasing all those tiny lots..
Permalink Reply by Linda Whatley on January 26, 2011 at 6:21

Nothing would ever get drilled........... the government moves too slow!!!!

Permalink Reply by Max on January 27, 2011 at 5:47
It may take awhile to get drilling done, but one thing is for sure, if the gov. owned the minerals, the big O & G's would buy the rights for a lot less.
Permalink Reply by john w. parrish on January 27, 2011 at 9:47
Kind of like   when they tried to leaase our property in arkansas for $50 Per acre  before the public knew   what was happening......Our oil and gas commission looked the other way.. jwp
Permalink Reply by Mac Davis on January 28, 2011 at 5:10

Actually, Max, the LA government seems to be getting better lease terms than most landowners around here.

 

The feds seem to be too dumb to allow drilling at all.

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