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Fri, 2012-08-03 05:00Steve Horn
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Delaware Tax Haven: The Other Shale Gas Industry Loophole

Most people think of downtown Houston, Texas as ground zero for the oil and gas industry. Houston, after all, serves as home base for corporate headquarters of oil and gas giants, including the likes of BP America, ConocoPhillips, and Shell Oil Company, to name a few.

Comparably speaking, few would think of Wilmington, Delaware in a similar vein. But perhaps they should, according to a recent New York Times investigative report by Leslie Wayne.

Wayne's story revealed that Delaware serves as what journalist Nicholas Shaxson calls a “Treasure Island” in his recent book by that namesake. It's an “onshore tax haven” and an even more robust one than the Caymen Islands, to boot.

The Delaware “Island” is heavily utilized by oil and gas majors, all of which are part of the “two-thirds of the Fortune 500” corporations parking their money in The First State.

Delaware is an outlier in the way it does business,” David Brunori, a professor at George Washington Law School told The Times. “What it offers is an opportunity to game the system and do it legally.”

The numbers are astounding. “Over the last decade, the Delaware loophole has enabled corporations to reduce the taxes paid to other states by an estimated $9.5 billion,” Wayne wrote

“More than 900,000 business entities choose Delaware as a location to incorporate,” explained another report. “The number…exceeds Delaware's human population of 850,000.”

Thu, 2011-06-16 14:15Laurel Whitney
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Stories From the March on Blair Mountain - Part 1 The March

I arrived a few days early to headquarters in Marmet, WV with an overly large pack that threatened to topple me over with one slightly unbalanced step. A sleeping bag, multiple changes of clothes, a bottle of Listerine, and ample bug spray would have to last me through the long and arduous journey of marching 50 miles along highways careening through the West Virginian Appalachians.

Over the next week, hundreds walked along the path of the original 1921 miners who rose up against the tyrannous coal companies in an attempt to unionize. In the 2011 March on Blair Mountain, community leaders, union members, and conservationists rallied to save the historical labor icon of Blair Mountain, sentenced for destruction via mountaintop removal mining (MTR).  We marched to protest against MTR and to advocate for safer working conditions and sustainable jobs for West Virginians, whose economy and proud natural landscape have been eroded by greedy coal barons.

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