Severance tax group starts Facebook page | Arkansas Blog

Wednesday, November 2, 2011

Severance tax group starts Facebook page

Posted By on Wed, Nov 2, 2011 at 1:02 PM

severancelogo.jpg
The Commitee for a Fair Severance Tax, the group pushing an increase in the severance tax on natural gas, has an informational Facebook page up. The petition drive for the 2012 election is underway. Excerpt:

This proposed initiated act will raise the severance tax in Arkansas to 7% [of the price at wellhead] and on par with those in the adjoining natural gas producing states of Texas, Louisiana, and Oklahoma. In the last fiscal year, the natural gas companies had $3.5 billion in sales and paid $54.9 million in severance taxes or a rate of only 1.5%. These companies have damaged highways, city streets and county roads to the tune of over $450 million and have seriously impacted our environment. They have done this while extracting billions in our precious non-renewable resources, mostly for sale in other states, at bargain rates, because our severance tax is the fourth lowest among the 30 gas producing states. The damage caused to our infrastructure and environment will only get worse, not better because large multinational companies have now entered the state to extract our natural gas.

Tags: , , , ,

From the ArkTimes store

Favorite

Comments

Subscribe to this thread:

Add a comment

More by Max Brantley

Readers also liked…

Most Shared

Most Viewed

Most Recent Comments

  • Re: The Thanksgiving eve open line

    • Trumps first visit to Moscow was 1977, received the royal treatment and slept In Lenins…

    • on November 22, 2017
  • Re: The Thanksgiving eve open line

    • If the U OF A has a search committee let them multitask and replace Long,…

    • on November 22, 2017
  • Re: The Thanksgiving eve open line

    • The race track, the dog track, and Dave and Busters are state generated monopoly businesses,…

    • on November 22, 2017

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation