text: "It was based on $150 dollar oil"
  
  That is what they are waiting for.  It's insane.
  
  When discussing the oil tax bill and all of the deductions before they start paying taxes, no one in the legislature even knew why they added on an extra $8 "Progressivity credit" per barrel....
  
  "$50 per barrel taxable value, SB 21 assigns a 35 percent base tax rate, or $17.50 per barrel. Subtract the $8 per barrel “progressivity credit,” when production tax value (PTV or cash flow) is less than $80/barrel, and the resulting production tax is 19 percent. The SB21 production tax on “new” oil at this PTV is reduced another $5 per barrel to a production tax of only 9 percent. In addition, the Gross Value Reduction of 20 percent applied before calculating the production tax on “new oil” reduces the production tax to only $1 per barrel or 2 percent."
  
  When it was explained w/SB21 we are losing $$, GOP refused to believe it.
  
  & Does anyone know why the "new oil" is a secret?
  
  This is called organized crime.