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Political Factoid
Oil companies in the United States
pay a much lower percentage to the
government for the oil they extract
than do oil companies in other countries.
- 12.5% (or less*) - United States
- 16.7% (or less*) - United States off-shore
- 40% - Canada
- 75% - Norway
- 93% - Libya (under Gaddafi)
The government debt goes up, along with
the profits of the the oil companies.
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The oil companies have negotiated
a number of leases in U.S. lands
and waters as low as zero royalties.
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