I would first like to say that Mr. Callwood does not know what he is talking about. Hovensa L.L.C. is the largest employer outside of the government and the largest private company employer in the Virgin Islands. Why should Hovensa have to be heavily taxed so the government can make money that they lost? Maybe if V.I. politicians would stop giving themselves raises for accomplishing absolutely nothing, then the government would not find themselves in such debt that they are currently in.
Mr. Callwood, if you think that the Hovensa Refinery should be taxed more, then that is fine. However, when you hear that the company has announced to layoff their 2000+ workers because they can't afford to pay their employees, you will be sorry that the decision was made to tax them heavily. The Virgin Islands Government currently gets a fair tax percentage on revenues that the refinery makes. The government just doesn't know how to manage their money. It is completely ridiculous what Mr. Callwood is saying. Yes, The Hess Corporation made a profit of 1.9 billion dollars for 2006. This does not mean that Hovensa made 1.9 billion dollars. This profit includes exploration and production, retail and marketing, and refining.
Mr. Callwood needs to stop blaming the Hovensa Refinery for the debt that the government has put itself in. Taxing Hovensa heavily would not be a wise idea considering that Hovensa is the main economic force that is keeping St. Croix alive along with the EDC companies.
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