I do not agree with Governor Corbett that a $1.7 billion tax break is warranted for Shell to build in northwestern Pa. According to Press Association John Donovan's 5/21/12 article-Oil giant Royal Dutch Shell Chief executive Peter Voser's pay included incentives of $11.8 million this year, $14.7 million in 2011 (more than twice what he earned in 2010).
Noreen Nielsen on the Climate Progress website said that Shell made $8 billion in profits in 2011 according to their 2nd-quarter financial report- a nearly 74 percent increase from the same time in 2010. According to the same website Rebecca Leber on Apr 26, 2012 stated: "Royal Dutch Shell's profits rose 15.9 percent in the first quarter of 2012, netting $7.3 billionIn 2011, Shell's profits soared 54 percent." "A few facts about Shell: It is the second-largest lobbyist in oil and gas, lobbying $14.6 million in 2011. This is up from 10 million in 2009 and 2010. Shell has more than $10 billion in cash reserves as of January 2012. Shell CEO Peter Voser's compensation more than doubled in 2011 to $15.3 million. His salary increased (in euros) by 113 percent. Even though oil production dropped 3 percent."
I do not agree with Governor Corbett that $1.7 billion tax break is warranted for Shell to build in northwestern Pa. If Royal Dutch Shell can pay these types of perks to management, spend the figures to lobby, have these huge amounts of cash reserves and such large profits, they can forego tax breaks.
If we have the skilled workforce or those willing to be trained, if the appropriate land is available, if the infrastructure is sound (bridges, highways, etc.) then the American managers in the Shell company should encourage the corporation to establish its business in northwestern Pennsylvania.
Corporate welfare is passe and impossible to sustain in this delicate economy. Once again the wealthy seem to be taking advantage of middle Americans.
American public education needs funding so there is a strong workforce available. Jobs. Infrastructure needs enhanced and secured for safe truck and rail traffic. Jobs.
Fairness in taxation needs to be a priority soon before the gap between rich and poor implodes.
Oh, and by the way, these jobs teachers, construction, energy- mean more people paying taxes to the nation to bolster the economy.