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  • 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 […]

  • Energy Tax Facts
  • 27 Jun 13

POTUS’ Climate Action Plan Wrong on O&G Taxes

This week, the President laid out his Climate Action Plan – a national strategy with the goal of mitigating climate change and preparing for its potential impacts. Of note was the President’s rhetorical support for natural gas as a key fuel for both reducing America’s carbon emissions while shoring up our national security. As the […]

  • Energy Tax Facts
  • 20 Jun 13

NAPTP Responds to NY Times Article on Oil and Gas MLPs

The following is a guest blog post from the National Association of Publicly Traded Partnerships (NAPTP). In his latest New York Times entry – How the I.R.S. Encourages Oil and Gas Spinoffs – Mr. Fleischer is correct to assert that if Congress were to pursue comprehensive tax reform, it must examine our current corporate tax system […]

  • Energy Tax Facts
  • 18 Jun 13

Rep. Boustany: IDCs Absolutely Necessary for Independent Producers to Thrive

By Congressman Charles W. Boustany, Jr. (LA-03)  In today’s age of thirty-second sound bites and fiery rhetoric, the oil and gas industry continues to come under heavy attack. Critics cite “subsidies” and “loopholes” as means by which the industry avoids “paying its fair share.” However, that’s simply not reality. An industry that delivers over $86 […]