The world's opinions
The following are editorial opinions from newspapers from around the world which may be of interest to Royal Gazette readers.
Loveland Colorado Daily Reporter-Herald– on why the oil industry can afford a cleanup tax
If there's an industry that can afford to pay a tax to clean up its mess, it's the oil industry.
Yet the screaming has begun over the proposed cleanup tax inspired by the recent disaster in the Gulf of Mexico. Whether the industry is considered in the macro or the micro, the facts speak for themselves. First the micro. Transocean, the company that owns the oil drilling platform where the Gulf leak occurred, moved its headquarters from Houston to Switzerland to avoid paying US taxes. It still has 1,300 people in Houston, and about 12 in Switzerland. It saved $1.8 billion in taxes, according to a study by Martin A. Sullivan, an economist for the trade publication Tax Analysts.
BP leases the platform from Transocean to take advantage of a tax break that permits it to write off most of the rental cost, a tax deduction of $82 million a year on that transaction alone. Then the macro. The oil industry pays far less than American business in general on capital investments — less than half, in fact. ... The US Treasury Department found that oil industry profits were high enough to cause almost no impact on oil output if tax subsidies were eliminated. Some of the subsidies, like the nation's mining laws, date to when the oil industry began operations and when the risk of failure was far greater than it is today. ...
Daily News, Bowling Green, Kentucky, –on Obama's new political correctness
Political correctness has sprouted another ugly branch in the form of an edict from President Barack Obama. The Obama administration has moved to drop rhetorical references to Islamic radicalism. His idea is to quit linking Islam with the hideous happenings going on in our world. In other words, let's just pretend there's no such thing as Islamic radicalism. Maybe that's a stretch. However, it is nowhere near the stretch of not describing our nation's enemy precisely.
Besides the clunky PR effort, the president ordering such a silly change begs one to wonder what kind of leadership he's providing in the war on terrorism, one of smoke and mirrors or one of inspirational leadership to strategise our military through what its leaders see as answers to sweeping away the threat. Know your enemy, don't rename them. ... We're not at war against Islam. Sensible Muslims and other reasonable people understand that.
However, we are tooth and nail at odds with a group of people who have a radical view of the religion that is their sole motivating factor for eradicating those who think differently. ... Instead of worrying about offending some people's view of how we describe cold-blooded killers, we should be exerting more energy and wise thinking to keep our country safe from suicide bombings and growing threats from our porous borders. Nixing the term Islamic extremism should be so far down the president's to-do list that it can't be seen without a telescope.