Utopia Talk - Politics - I want a sovereign wealth fund

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Utopia Talk / Politics / I want a sovereign wealth fund

Habebe
rank Mon Apr 13 05:55:49
How TF do I live in the only state to not have a severance tax? WTAF?

And then the small amount we tax goes immediately to paying for shit.

Ive said it before, Norway literally wrote the book on this, this is how its done, hats off to them.

PA is LOADED with natural gas, which also spits out fucking Lithium as a hyproduct here.

This is so dumb, copy the Norweigan model.

Habebe
rank Mon Apr 13 05:56:33
FFS Texas taxes it more.

TheChildren
rank Mon Apr 13 07:38:42
nah wut u want is bone spurs

Pillz
rank Mon Apr 13 19:30:35
PA is probably the worst state, so your outrage is kinda dumb

Habebe
rank Tue Apr 14 04:41:37
How is PA the worst state?

Have you been to the South?

jergul
rank Tue Apr 14 12:22:58
Its not really that great...yet. This year the oilfund gave maybe 30 billion to the state budget (net).

The problem here is the mechanics. Norway first moves all revenue from oil and gas to the fund, then withdraws up to 3% of the total fund. This year, oil and gas revenues going into the fund will be pretty close to 2.8% of the fund. Which is coincidentally also what the government intends to withdraw. So the principal will be virtually untouched.

Essentially, the oil fund is not contributing to the Norwegian economy at all. At least not yet.

Habebe
rank Wed Apr 15 03:35:08
We literally don't even tax it as much as TX, or ANY other major producing state.

And as part of the fracking, our waste water has dangerously high amounts of Lithium, thats apparently easy to recover, enough yo supply 40% of the US demand for it.

For the state it's a win win if we atleast do some sort of tax/invest scheme.

-----

Pennsylvania is the only major energy-producing state without a severance tax (Brookings) . PA's "impact fee" is calculated per well, while actual severance taxes are based on production value or volume. Alaska's effective severance tax rate was 23% in 2012 (Wvpolicy) . A Pennsylvania severance tax could have generated around $350M in 2016/17 alone (Brookings) — more than double the impact fee.

Habebe
rank Wed Apr 15 03:35:35
Even Alaska or North Dakota models will be improvements.

show deleted posts

Habebe rank	Mon Apr 13 05:55:49 How TF do I live in the only state to not have a severance tax? WTAF? And then the small amount we tax goes immediately to paying for shit. Ive said it before, Norway literally wrote the book on this, this is how its done, hats off to them. PA is LOADED with natural gas, which also spits out fucking Lithium as a hyproduct here. This is so dumb, copy the Norweigan model.
Habebe rank	Mon Apr 13 05:56:33 FFS Texas taxes it more.
TheChildren rank	Mon Apr 13 07:38:42 nah wut u want is bone spurs
Pillz rank	Mon Apr 13 19:30:35 PA is probably the worst state, so your outrage is kinda dumb
Habebe rank	Tue Apr 14 04:41:37 How is PA the worst state? Have you been to the South?
jergul rank	Tue Apr 14 12:22:58 Its not really that great...yet. This year the oilfund gave maybe 30 billion to the state budget (net). The problem here is the mechanics. Norway first moves all revenue from oil and gas to the fund, then withdraws up to 3% of the total fund. This year, oil and gas revenues going into the fund will be pretty close to 2.8% of the fund. Which is coincidentally also what the government intends to withdraw. So the principal will be virtually untouched. Essentially, the oil fund is not contributing to the Norwegian economy at all. At least not yet.
Habebe rank	Wed Apr 15 03:35:08 We literally don't even tax it as much as TX, or ANY other major producing state. And as part of the fracking, our waste water has dangerously high amounts of Lithium, thats apparently easy to recover, enough yo supply 40% of the US demand for it. For the state it's a win win if we atleast do some sort of tax/invest scheme. ----- Pennsylvania is the only major energy-producing state without a severance tax (Brookings) . PA's "impact fee" is calculated per well, while actual severance taxes are based on production value or volume. Alaska's effective severance tax rate was 23% in 2012 (Wvpolicy) . A Pennsylvania severance tax could have generated around $350M in 2016/17 alone (Brookings) — more than double the impact fee.
Habebe rank	Wed Apr 15 03:35:35 Even Alaska or North Dakota models will be improvements.
	show deleted posts

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