Quote:
Originally Posted by polak
Posted this in that other thread but:
How about we focus on diversifying our economy. For every dollar that Oil goes over $90 bucks a barrel, O&G producers need to pay an extra royalty which gets distributed to non-oil and gas companies.
This would attract all industries when times are good. Not just the ones that can benefit from Oil and it's not like O&G companies are going to close shop when there is +90 dollar oil to be had.
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Dont give it to other businesses. Do what should have been done from the first drop of oil being extracted from the ground.
All resource revenues go into a government fund that only interest is used for government revenues. This would allow lower general overall taxes long term and ensure that the future expenses are well taken care of. A long term subsidy of non-oil buisnesses is still problematic as thsoe business would suffer with any oil downturn which is what your are trying to avoid.