EAST LIVERPOOL — Marathon Petroleum Corp....
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"Drake said Marathon officials indicated to him that while the company still intends to close on the property purchase, they are worried an "excessive" increase in the severance tax might result in some drilling companies pulling up and relocating operations to states with lower production taxes."
Marathon I don’t think that fear tactic your running for the Drilling people is going to work. Quit stalling. Those talks could go on for quite awhile and look at the profits your missing out on now. Get cracking, while the fracking is happening!! If that bill flies nobody is going to be pulling up and locating no where. I don't see that happening. Just to stomp their feet and go off to pay an even higher severance tax someplace else?
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Ohio will still be the lowest even with the talks about increasing it to Kasich's 2.75%. With a 3 year exemption to go with it. I really don’t think that scare tactic of pulling up and moving out is going to fly. Where would they be going ? West Virgina and pay the 5% there.
Besides I doubt seriously there is going to be a local government having any sympathy when it comes to tax, when Kasich is pushing to shore up the 20% percent of severance tax revenue going to local governments impacted by the drilling. And that is up 10 percent in the recent amended version of the bill.
That is the name of the game, you stay and play, you have to pay!
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