New Hampshire- Last week, Congressman Frank Guinta falsely insisted on television that he had not voted for Big Oil subsidies in the Ryan Budget, but in May, 2011, he happily offered to give oil companies an even bigger free gift from the taxpayers.
The moderator at the BIA debate, Laura Knoy, said, “NHPR did…follow up with reporting on the oil and gas subsidies that Frank Guinta said were not in the budget and we have reported that in fact they were in the budget.”
Frank Guinta tried to trick the debate audience, but last May, he informed an outraged audience at Conway Elementary School: “If you’re going to get rid of that tax benefit to those five companies let’s also eliminate those lease payments and make it fair.” Fair?
The Congressional Budget Office estimates that oil and gas companies received $2.5 billion in tax preferences during FY 2011, while the federal government received $8.4 billion from oil and gas companies in royalty revenue, says the Department of the Interior. Thrifty?
Congressman Guinta seems to think “fair” and “thrifty” mean taking away $2.5 billion in subsidies and giving Big Oil $8.4 billion instead. That means a $6 billion raise for companies like Guinta donors Exxon-Mobil and Koch Industries.
Carol Shea-Porter knows that lease payments are owed to the taxpayers.
“It comes as no surprise that Congressman Frank Guinta misled the people again about the Ryan Budget,” said Shea-Porter campaign manager Naomi Andrews. “ Here is the truth—Congressman Guinta wants to give corporations free leases and oil that belongs to the American people. That is neither fair nor thrifty.”
Conway Town Hall meeting http://www.youtube.com/watch?v=eEAFUe3tmVc&feature=plcp
BIA Debate http://video.nhptv.org/video/1602130142
The Exchange: Rehashing the Debates http://www.nhpr.org/post/rehashing-debates
Department of the Interior: ONRR Federal Onshore Reported Royalty Revenues http://www.onrr.gov/ONRRWebStats/Disbursements_Royalties.aspx?report=FederalOnshoreReportedRoyaltyRevenues&yeartype=FY&year=2011&datetype=AY
Department of the Interior: ONRR Federal Offshore Reported Royalty Revenues http://www.onrr.gov/ONRRWebStats/FedOffReportedRoyaltyRevenues.aspx?yeartype=FY&year=2011&dateType=AY
CBO: “Federal Financial Support for the Development and Production of Fuels and Energy Technologies” http://www.cbo.gov/publication/43032