• Energy Tax Facts
  • 22 Nov 13

IPAA Responds to Chairman Baucus’ Proposal on American Energy Taxes

This week, Senate Finance Committee Chairman Baucus moved forward efforts to update America’s tax code. Unfortunately, the Chairman’s draft proposal includes repealing certain historical tax provisions that are critical to the continued development of American energy such as the Intangible Drilling Costs (IDCs) deduction. In response to Chairman Baucus’ proposal, Independent Petroleum Association of America […]

  • Energy Tax Facts
  • 4 Nov 13

Poll: Voters Oppose Increasing Taxes on Energy Production

Matt Kellogg, IPAA’s Manager of Government Relations A new poll by Harris Interactive, conducted as a part of the American Petroleum Institute’s (API) “What America is Thinking on Energy Issues” series, finds a majority of American voters oppose changes to the tax code that would hinder energy production in the United States. According to the […]

  • Energy Tax Facts
  • 22 Oct 13

Oil and Gas Supply Chain Group Supports the IDCs Deduction

This week the Energy Equipment and Infrastructure Alliance (EEIA) sent a letter to leaders of the House Ways & Means and Senate Finance Committees urging members to reject any proposal to eliminate the expensing of intangible drilling costs (IDCs) as part of any comprehensive tax reform.  Significantly, the EEIA does not represent oil and gas […]

  • Energy Tax Facts
  • 8 Oct 13

IDCs Supporting the American Economy

As record U.S. energy production continues to make headlines across the globe, a new report from IHS CERA finds the economic impact of shale development alone is reaching far beyond the well pad – again highlighting why the intangible drilling cost (IDC) deduction is pivotal to the American economy. According to the report, development of […]

  • Energy Tax Facts
  • 27 Aug 13

Tax Reform Should Complement the Robust Growth in U.S. Energy Infrastructure

By Amos Snead Efforts are underway to reform the U.S. tax code, and the oil and natural gas industry is facing the unknown in many different ways. There may be changes to how this critical industry is taxed at state and federal levels, even as it stands on the threshold of substantial growth. As America […]

  • Energy Tax Facts
  • 13 Aug 13

Senators Agree on Importance of Current Tax Provisions to Future Economic Growth

This year the Senate Finance Committee’s work on a potential overhaul of the U.S. tax code has included outreach to members of the Senate in order to identify those tax provisions that should be retained because they help “grow the economy, make the tax code fairer, or effectively promote other important policy objectives.” On Friday, […]

  • Energy Tax Facts
  • 12 Jul 13

Study: Repealing IDC Deduction Would Destroy U.S. Jobs

Today, the American Petroleum Institute (API) released a study, conducted by Wood Mackenzie, that found repealing the Intangible Drilling Costs (IDCs) tax deduction would have a profoundly negative impact on American energy production, including the men and women whose jobs depend on it. According to the study, repeal of the IDC deduction would cost 190,000 American […]

  • Energy Tax Facts
  • 1 Jul 13

Wall Street Journal: IPAA discusses role of taxes in continued oil and natural gas development

Some of the U.S. utilities that burn coal to generate electricity reacted with caution Tuesday to an Obama administration proposal to limit carbon-dioxide emissions, amid concern that the rules might target coal plants for emissions cuts, while letting other sources of emissions, such as petroleum fuels, off the hook. “The devil is in the details; the rules […]