Re: Does the petroleum industry still need subsidies?

Hackett hasn't seen much of them.
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TRANSCRIPT

Question: Does the petroleum industry still need subsidies?

Jim Hackett: You got actually ask yourself what is subsidiary they are getting, because you hear that in New York Times lot, I am not aware of the subsidies we get personally. We are one of the few industries in America that actually doesn’t get to expand its R&D. We actually have periods of timer where which we have to expands R&D. We don’t have necessarily favorable depreciation schedule relate to others, I don’t think people will say to depreciation of fixed assets, is a subsidy actually thinks personal about tax offer all businesses and in fact it would be higher corporate tax rates in almost anybody in the world today, will pay servants tax, we pay relatives, we pay taxes add in for an item. So, when people talk about the oil companies being subsidized, I guess I just kind of wonder by nowhere it is coming from then why it is coming, it is not actually right.

 

Recorded On: 3/24/08