Archive for Wednesday, May 10, 2006
Tax break passed for oil companies
May 10, 2006
Advertisement
Topeka — Despite soaring oil company profits, the Legislature on Tuesday approved tax breaks for oil refineries and pipelines that could total nearly $40 million.
The measure was sent to Gov. Kathleen Sebelius on overwhelming majorities: 105-15 in the House and 36-2 in the Senate.
Supporters said the proposal would spur expansion of oil refineries in Kansas, lure construction of pipelines through the state and help nitrogen fertilizer plants.
“This is critical to this country to have affordable energy in the future,” Sen. Les Donovan, R-Wichita, said.
But Sen. Marci Francisco, D-Lawrence, opposed the bill.
“I’m concerned that we develop energy sources for the future, not work to more quickly deplete the current energy sources,” Francisco said.
State Rep. Tom Sloan, R-Lawrence, said the tax breaks would help refineries in Kansas make improvements to refine heavy crude from tar sands from Canada.
But Rep. Nile Dillmore, D-Wichita, was less sympathetic.
He said the refining industry purposely had held back on expansion to produce the current demand and resulting high gasoline prices at the pump.
“I’m not going to subsidize that business plan,” he said.
The measure would provide income tax credits, accelerated depreciation and property tax exemptions for several types of energy projects, including oil refineries, pipelines, coal gasification power and fertilizer plants.
The tax breaks could total $38 million by 2013, according to a state estimate.
Top ads RSS
Marketplace
Arts & Entertainment · Bars · Theatres · Restaurants · Coffeehouses · Libraries · Antiques · Services
- Protest reaches milestone September 5, 2008 · 18 comments
- College Republicans excited after speech September 5, 2008 · 66 comments
- Hypocrisy on Palin daughter September 5, 2008 · 25 comments
- Palin denounces ‘lies’ about family September 5, 2008 · 32 comments
- McCain casts self as reformer September 5, 2008 · 28 comments
- Obama’s style September 4, 2008 · 51 comments
- Palin introduces herself to American public September 4, 2008 · 228 comments
- City may be 1st in state with health clinic September 5, 2008 · 11 comments
- Weblog: Nancy Boyda: The Best Fit for the 2nd District September 4, 2008 · 3 comments
- Chancellor announces 'record enrollment' at KU this semester September 4, 2008 · 16 comments
- Seabury falls, 66-14, in football debut September 5, 2008
- Morris twins declared eligible September 4, 2008
- Report: Stern singles out KU duo September 5, 2008
- City may be 1st in state with health clinic September 5, 2008
- Chancellor announces 'record enrollment' at KU this semester September 4, 2008
- KC-area runners to train in Lawrence September 5, 2008
- Chamber of Commerce interviews 2nd candidate for CEO post September 5, 2008
- College Republicans excited after speech September 5, 2008
- Oil prices plunge, gasoline prices don’t September 5, 2008
- Tag team: Married artists Kunkel and Jarnot find beauty in pop iconography and everyday objects September 5, 2008
10 May 2006 at 7:26 a.m.
Suggest removal
Permalink
rminear68 (Anonymous) says…
Yeah….we can't find enough money to fund education….but lets keep giving tax breaks to the oil industry….and lets keep paying $2.75 or more a gallon.
Just another reason why our legislature is run by a bunch of buffoons in the Republican party.
10 May 2006 at 10:34 a.m.
Suggest removal
Permalink
oscarfactor (Anonymous) says…
You have GOT to be kidding. OK - let's make sure that someone (the Lawrence J-W, perhaps) checks campaign contributions to our state lawmakers to see how much money they receive in the next election cycle from oil and gas interests.