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Elroy Jetson

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Elroy Jetson

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Re: None

Monday, 12/11/2017 8:42:24 PM

Monday, December 11, 2017 8:42:24 PM

Post# of 109990
The Trump administration just tried auctioning-off oil leases in the Arctic. Due to low oil prices there were no bids on 99.2% of the land auctioned.

The 0.8% of the acreage attracting bids topped out at only $14.99 per acre, with bids ranging down to pennies an acre.

The auction netted a total of only $1.2 million from the sole bidder ConocoPhillips Alaska - Anadarco E&P Onshore LLC who essentially bought a million Dollar lottery ticket that these leases might someday become worth something before they expire. They certainly have no intention of drilling there now.

The Trump administration had anticipated $1.5 trillion to pay for his tax giveaways.

https://www.washingtonpost.com/news/powerpost/paloma/the-energy-202/2017/12/08/the-energy-202-large-and-unprecedented-alaska-oil-sale-falls-flat-as-congress-readies-arctic-refuge-drilling/5a29c92030fb0469e883fab3/

We've run out of other people's Social Security taxes needed to subsidize our low income tax rates.

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