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Author Topic: Oil Spill Protection Act [Lazily Law'd]  (Read 1326 times)
Marokai Besieged
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« on: January 28, 2012, 12:38:18 am »
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Quote
Oil Spill Protection Act

Section 1: Oil Profits Tax

1. Any oil company that does business within Atlasia and earns a larger quarterly profit than one billion dollars shall be subject to a 5% tax on all profits above one billion dollars in that quarter.

2. Revenue from the oil profits tax shall be diverted into a newly created Oil Spill Protection Fund which shall be used to promote research and development of new technologies to prevent environmental damages in the event of an oil spill or similar disaster, as well as to fund emergency clean-up and rebuilding measures in the aftermath of such an event.

Section 2: Regulatory Effectiveness

1. All oil rigs and drilling platforms operating within Atlasian land and waters, regardless of their supposed nationality, shall be subject to Atlasian regulatory rules and will be inspected regularly by personnel from the Department of Internal Affairs.

2. All oil drilling platforms are required to install and regularly test each month 'emergency blow-out preventers' and evacuation drills.

3. Companies operating any oil drilling platforms that do not meet Atlasian safety regulations may be required, at the discretion of the Department of Internal Affairs, to pay additional taxes into the Oil Spill Protection Fund.

Section 3: Responsibility

1. In the event of an oil spill or another oil-related disaster, the oil and drilling companies in question shall be entirely responsible for cleanup measures. If deemed necessary by the Secretary of Internal Affairs, the financial resources of the Oil Spill Protection Fund will be made available to ensure a swift and full cleanup process.

2. No monetary cap shall be put in place for oil spill cleanup and compensation for damages.


(General slot, excluding Amendments.)

Sponsor: Marokai Blue
« Last Edit: February 24, 2012, 10:03:37 am by Mad Marokai, PPT »Logged

R2D2
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« Reply #1 on: January 28, 2012, 11:04:00 am »
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I think this piece of legislation is actually really great and I'm glad it has been proposed, but my biggest problem is Section 3 Clause 1...I think the language should be changed to "In the event of an oil spill or another oil-related disaster, the oil and drilling companies in question shall be entirely responsible for the disaster and shall be largely responsible for cleanup, however, if Atlasian citizens wish to volunteer to assist cleanup efforts, they shall be allowed to do so." or something like that. Volunteerism brings people together Tongue
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Marokai Besieged
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« Reply #2 on: January 29, 2012, 09:13:03 pm »
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I think this piece of legislation is actually really great and I'm glad it has been proposed, but my biggest problem is Section 3 Clause 1...I think the language should be changed to "In the event of an oil spill or another oil-related disaster, the oil and drilling companies in question shall be entirely responsible for the disaster and shall be largely responsible for cleanup, however, if Atlasian citizens wish to volunteer to assist cleanup efforts, they shall be allowed to do so." or something like that. Volunteerism brings people together Tongue

How about this? More simple, I think:

Quote
Section 3: Responsibility

1. In the event of an oil spill or another oil-related disaster, the oil and drilling companies in question shall be entirely responsible for cleanup measures. If deemed necessary by the Secretary of Internal Affairs, the financial resources of the Oil Spill Protection Fund will be made available to ensure a swift and full cleanup process.

2. No monetary cap shall be put in place for oil spill cleanup and compensation for damages.

3. Nothing in this bill shall be construed in such a way as to prevent volunteer cleanup and rescue efforts, and they may freely coordinate with local officials. Expenditures made from volunteer efforts for the purposes of cleanup and rescue may be reimbursed with funds from the Oil Spill Protection Fund.
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R2D2
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« Reply #3 on: January 30, 2012, 06:10:17 am »
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That's better Tongue
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GM Napoleon
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« Reply #4 on: January 30, 2012, 06:13:35 am »
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We should give incentive to companies that improve their environmental record year to year , maybe by offering a lower tax rate for better performance.
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Senator-elect Polnut
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« Reply #5 on: January 30, 2012, 07:27:26 am »
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We should give incentive to companies that improve their environmental record year to year , maybe by offering a lower tax rate for better performance.

I think a specifically lower rate would be a potential administrative nightmare... perhaps a tax credit would be better.
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« Reply #6 on: January 30, 2012, 09:04:05 am »
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We should give incentive to companies that improve their environmental record year to year , maybe by offering a lower tax rate for better performance.

I think a specifically lower rate would be a potential administrative nightmare... perhaps a tax credit would be better.

Yeah, this. I'm in favor of lower taxation for all businesses, but I could be persuaded to support tax credits for more "responsible" companies.
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GM Napoleon
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« Reply #7 on: January 30, 2012, 05:35:51 pm »
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We should give incentive to companies that improve their environmental record year to year , maybe by offering a lower tax rate for better performance.

I think a specifically lower rate would be a potential administrative nightmare... perhaps a tax credit would be better.

Yeah, this. I'm in favor of lower taxation for all businesses, but I could be persuaded to support tax credits for more "responsible" companies.

This bill raises taxes.


I have an aversion to the phrase "tax credit", rightwing connotations, but it could work for sure.
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Senator-elect Polnut
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« Reply #8 on: January 30, 2012, 11:46:25 pm »
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We should give incentive to companies that improve their environmental record year to year , maybe by offering a lower tax rate for better performance.

I think a specifically lower rate would be a potential administrative nightmare... perhaps a tax credit would be better.

Yeah, this. I'm in favor of lower taxation for all businesses, but I could be persuaded to support tax credits for more "responsible" companies.

This bill raises taxes.


I have an aversion to the phrase "tax credit", rightwing connotations, but it could work for sure.

Lol, alright call it an earned corporate tax deduction?
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Senator North Carolina Yankee
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« Reply #9 on: January 31, 2012, 12:06:12 am »
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Would it be wise to include language in this repealing the 2010 Oil Spill Protection effort so as to remove overlap?
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Marokai Besieged
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« Reply #10 on: January 31, 2012, 07:57:28 am »
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This bill raises taxes.

Very modestly, and only on oil companies that make over 1 billion in profits a year, and for a good (and life-saving) purpose. The oil industry is literally the most profitable industry on Earth.

Yeah, this. I'm in favor of lower taxation for all businesses, but I could be persuaded to support tax credits for more "responsible" companies.

I'm certainly open to including some sort of tax credit, if your support hinges on such a thing. I'm not really sure how to write it up in this instance, though.

Would it be wise to include language in this repealing the 2010 Oil Spill Protection effort so as to remove overlap?

After a quick browsing of that Act I see nothing in the two that directly contradict. I see no reason why they can't work in tandem with each other. This bill mostly just sets up different funding mechanisms, more research and development on safety and cleanup tech, and forces companies to be responsible for their messes.
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« Reply #11 on: February 01, 2012, 10:12:37 pm »
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I'd be supportive of an earned corporate tax reduction, but I don't think I would like to see it by too much, since we're already only taxing profits above a level that most people and companies would consider exorbitant anyway. Something like reducing it to 4% or 3.5% would I think be good.
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Marokai Besieged
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« Reply #12 on: February 01, 2012, 10:17:05 pm »
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I'd be supportive of an earned corporate tax reduction, but I don't think I would like to see it by too much, since we're already only taxing profits above a level that most people and companies would consider exorbitant anyway. Something like reducing it to 4% or 3.5% would I think be good.

What about reducing the profits tax that goes into the oil fund once it reaches a certain point? Once the Oil Spill Protection Fund reaches two billion, or something, we could cut the tax in half.
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GM Napoleon
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« Reply #13 on: February 01, 2012, 10:18:31 pm »
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I'd be supportive of an earned corporate tax reduction, but I don't think I would like to see it by too much, since we're already only taxing profits above a level that most people and companies would consider exorbitant anyway. Something like reducing it to 4% or 3.5% would I think be good.

What about reducing the profits tax that goes into the oil fund once it reaches a certain point? Once the Oil Spill Protection Fund reaches two billion, or something, we could cut the tax in half.

I initially forwarded the idea to try and get companies to self-regulate, so that the fund can be used when most needed. Im open to discussing the merits of capping it though.
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« Reply #14 on: February 05, 2012, 01:58:37 am »
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I'd be supportive of an earned corporate tax reduction, but I don't think I would like to see it by too much, since we're already only taxing profits above a level that most people and companies would consider exorbitant anyway. Something like reducing it to 4% or 3.5% would I think be good.

What about reducing the profits tax that goes into the oil fund once it reaches a certain point? Once the Oil Spill Protection Fund reaches two billion, or something, we could cut the tax in half.

I initially forwarded the idea to try and get companies to self-regulate, so that the fund can be used when most needed. Im open to discussing the merits of capping it though.

Yes, I'm not sure it's a great idea to treat this as a one-off thing. The purpose of this should be to foster appropriate and responsible business practices and ethics in the energy industry. It's not as if there's a dearth of things in the energy/environmental realm to use new revenue sources for, anyway.
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Senator-elect Polnut
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« Reply #15 on: February 05, 2012, 02:23:15 am »
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I'd be supportive of an earned corporate tax reduction, but I don't think I would like to see it by too much, since we're already only taxing profits above a level that most people and companies would consider exorbitant anyway. Something like reducing it to 4% or 3.5% would I think be good.

What about reducing the profits tax that goes into the oil fund once it reaches a certain point? Once the Oil Spill Protection Fund reaches two billion, or something, we could cut the tax in half.

I initially forwarded the idea to try and get companies to self-regulate, so that the fund can be used when most needed. Im open to discussing the merits of capping it though.

Yes, I'm not sure it's a great idea to treat this as a one-off thing. The purpose of this should be to foster appropriate and responsible business practices and ethics in the energy industry. It's not as if there's a dearth of things in the energy/environmental realm to use new revenue sources for, anyway.

Completely agree with this.
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Marokai Besieged
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« Reply #16 on: February 05, 2012, 08:39:29 am »
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I'm not sure I entirely understand what you're both arguing for, sorry. Are you agreeing or disagreeing with the idea? Tongue
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Senator North Carolina Yankee
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« Reply #17 on: February 07, 2012, 01:49:25 am »
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I think what Nathan said is don't cap it, just send the revenue to other places related to energy and environmental issues. I am not sure how that encourages responsible business practices, if so. 

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« Reply #18 on: February 09, 2012, 12:32:55 am »
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Well, is that interpretation an accurate and fair representation of the sentiments expressed on this measure by the humble and honerable servants and dilligent representatives of their respective constituencies, Senators Nathan and Polnut (listed here by senority of course).
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Senator-elect Polnut
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« Reply #19 on: February 09, 2012, 10:44:49 pm »
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Well, is that interpretation an accurate and fair representation of the sentiments expressed on this measure by the humble and honerable servants and dilligent representatives of their respective constituencies, Senators Nathan and Polnut (listed here by senority of course).

My my, nothing catty in that at all.

What it comes down to for me, is that businesses are provided both incentives for ecologically sound behaviour, as well as disincentives for practices that are damaging.

I support Senator Marokai's position on reducing the overall tax once it reaches are particular point. The problem then becomes, who do we know when an appropriate amount has been raised, assuming we go down that route.

However, a tax-only strategy doesn't exactly promote ecologically sound practices, I'm not 100% on the best way to incentivise the process... hence why I've been a little quieter on this issue-

« Last Edit: February 10, 2012, 12:17:49 am by Senator Polnut »Logged


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« Reply #20 on: February 12, 2012, 07:15:36 pm »
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Well, is that interpretation an accurate and fair representation of the sentiments expressed on this measure by the humble and honerable servants and dilligent representatives of their respective constituencies, Senators Nathan and Polnut (listed here by senority of course).

That's a fair assessment of what I meant, yes.

I also would like positive as well as negative incentives, if we can think of anything that might work that way.
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Marokai Besieged
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« Reply #21 on: February 13, 2012, 07:25:38 am »
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If someone wants to amend this bill, please do so. I don't particularly want to change anything about it myself, but if someone insists on it, propose it, and I probably won't oppose it. But if no one proposes something within 24 hours I'm bringing this to a vote.
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Marokai Besieged
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« Reply #22 on: February 14, 2012, 07:37:27 am »
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Okay then folks. With no discussion after 24 hours, I'm bringing this to a final vote. Please vote Aye, Nay, or Abstain.

Quote
Oil Spill Protection Act

Section 1: Oil Profits Tax

1. Any oil company that does business within Atlasia and earns a larger quarterly profit than one billion dollars shall be subject to a 5% tax on all profits above one billion dollars in that quarter.

2. Revenue from the oil profits tax shall be diverted into a newly created Oil Spill Protection Fund which shall be used to promote research and development of new technologies to prevent environmental damages in the event of an oil spill or similar disaster, as well as to fund emergency clean-up and rebuilding measures in the aftermath of such an event.

Section 2: Regulatory Effectiveness

1. All oil rigs and drilling platforms operating within Atlasian land and waters, regardless of their supposed nationality, shall be subject to Atlasian regulatory rules and will be inspected regularly by personnel from the Department of Internal Affairs.

2. All oil drilling platforms are required to install and regularly test each month 'emergency blow-out preventers' and evacuation drills.

3. Companies operating any oil drilling platforms that do not meet Atlasian safety regulations may be required, at the discretion of the Department of Internal Affairs, to pay additional taxes into the Oil Spill Protection Fund.

Section 3: Responsibility

1. In the event of an oil spill or another oil-related disaster, the oil and drilling companies in question shall be entirely responsible for cleanup measures. If deemed necessary by the Secretary of Internal Affairs, the financial resources of the Oil Spill Protection Fund will be made available to ensure a swift and full cleanup process.

2. No monetary cap shall be put in place for oil spill cleanup and compensation for damages.

3. Nothing in this bill shall be construed in such a way as to prevent volunteer cleanup and rescue efforts, and they may freely coordinate with local officials. Expenditures made from volunteer efforts for the purposes of cleanup and rescue may be reimbursed with funds from the Oil Spill Protection Fund.



Aye!
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« Reply #23 on: February 14, 2012, 09:13:13 am »
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Abstain.
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« Reply #24 on: February 14, 2012, 10:11:40 am »
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Aye
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