How are YOU telling BP to go **** itself?

[Al B. Sure!]

You're an idiot

You're a child

and you're Karol Capel.

[ricketyclik]

You're a child

and you're Karol Capel.

How can you call him a child when he comes back with such intelligent arguments?

[Flubber]

We don't auction them here (at least I've never heard of such a process here) and we would be mad to given that the life of a mine can be decades long. Unless the rights were auctioned in terms of a percentage cut. Is that the way they're auctioned in the US?

In most jurisdictions of which I am aware there is a royalty imposed on petroleum production. The rates vary widely (as they should) for different types of plays and are generally set by statute or regulation. In addition to that, there is the issuance of rights/leases/licences in the first place. In canada and US jurisdictions of which I am aware, this is done by a public auction of some type (in Canada people just send in their bids and the highest bidder for a parcel gets it and writes a check). In places in more frontier stages, the bid may be in the form of a commitment to explore and expend certain sums doing so.

But in all cases I believe in NA, the ability to get a lease in the first place is subject to competitive processes

[KrazyHorse]

Because they are public property, and won't be renewed. It therefore makes sense to maximise the return to the public from them, without actually driving away those who want to extract them.

All countries around the world adopt this approach with non-renewables.

Are you a ****ing idiot?

http://en.wikipedia.org/wiki/Royalties

[KrazyHorse]

In Canada, one's marginal tax rate has no bearing on the value of tax credits.

It's not a tax credit in NY. It's a tax-exempt purchase.

[KrazyHorse]

PCRs could win popularity soon

[KrazyHorse]

Yes, royalties are what I'm talking about, but I'm using the blanket term tax. (Australia is in the middle of a heated debate about a proposal to replace royalties with a "resource super profits tax".)

Charging a tax on profits is ****ing idiotic and far less efficient than charging a tax on extraction.

Moron.

[notyoueither]

I believe the states collect royalties on minerals in Oz.

[MrFun]

I hate hillbillies almost as much as I hate Iowegians.

it's I-O-W-A-N-S

look it up

[KrazyHorse]

I believe the states collect royalties on minerals in Oz.

So this is a grab for state revenues which impedes efficiency?

[ricketyclik]

Hey Crazy Horse!

(_!_)

Stop putting words in my mouth mother****er. You've done several times in this thread.

Oh, and suck the pus out of my dick mummy's boy.

[Hauldren Collider]

How can you call him a child when he comes back with such intelligent arguments?

Every counterargument has already been MADE. You've already been pwned, the only think continuing this debate is your inability to realize why you are wrong. So I'd only be repeating what others have said. Hence, you are an idiot.

[KrazyHorse]

Once more proving that you have 0 ****ing clue what the **** you're talking about.

[Hauldren Collider]

...xpost, right?

[KrazyHorse]

I'd rather let you worry about it than tell you