Tag: percentage depletion

  • Energy Tax Facts
  • 6 Oct 21

Mineral Rights Podcast: Mineral Rights News October 2021

This month the showhosts discuss articles that talk about whether or not we will be able to continue to expense Intangible Drilling Costs and to take the Percentage Depletion Deduction on our Royalties, Shell’s decision to leave the Permian Basin, and why elevated oil and gas prices will likely continue.

  • Energy Tax Facts
  • 1 Oct 21

Odessa American: Reconciliation bill stirs rhubarb

Pfluger, Pruett, TIPRO excoriate Biden’s plan Texas political leaders and oil and gas producers are fighting President Biden’s proposed budget reconciliation bill with all the force they can muster, saying the bill’s energy-related measures would severely damage the nation. … Pruett said the reconciliation bill “has provisions designed to put U.S. oil and gas producers […]

  • Energy Tax Facts
  • 9 Aug 21

The Hill: “Tax hikes on energy will hurt the economy and America’s competitiveness”

BY BERNARD L. WEINSTEIN, OPINION CONTRIBUTOR Looking for ways to help pay for his $1 trillion infrastructure plan, President Biden has aimed his sights at the oil and gas industry. Among other proposals, the administration wants to raise the corporate tax rate from 21 percent to 28 percent and replace fossil fuel “subsidies” with clean energy incentives. Proponents estimate […]

  • Energy Tax Facts
  • 1 Aug 21

World Oil: Industry must find ways to survive increasingly authoritarian U.S. government

By David Blackmon, Contributing Editor DEMAGOGUING THE INDUSTRY ON MYTHICAL TAX “SUBSIDIES” Nowhere has the intensification of this war on oil and gas become clearer than in Democrats’ current efforts to raise taxes on the industry. In its “Green Book” related to the administration’s gargantuan omnibus budget bill, the Treasury Department uses this coded language […]

  • Energy Tax Facts
  • 19 Jul 21

The Tribune: Brady urges action on Biden tax proposals

U.S. Congressman Kevin Brady says time is limited to speak up against recent proposals made by the Biden administration. In an early morning roundtable with business leaders in north Houston, Brady spoke of potential effects if proposed tax increases suggested by Pres. Joe Biden pass. In May, the White House released Biden’s FY 2022 budget, […]

  • Energy Tax Facts
  • 16 Jun 21

The Oklahoman: Your turn: President Biden’s energy plan penalizes oil and gas royalty owners

By Richard C. Lerblance, a member of the Pittsburg County Democrat Club. …Royalty payments are paid to thousands of Oklahomans on a monthly basis from oil and gas production. As a matter of fact, the May edition of ROAR, a publication produced by the National Association of Royalty Owners, listed Oklahoma as having 2,537,250 royalty […]

  • Energy Tax Facts
  • 29 May 21

Biden Budget Proposal Repeals Industry Tax Provisions

President Biden issued his first full budget proposal today, a 1,700-page plan detailing a dramatically increase the size and scope of the federal government with more than $6 trillion in spending over the coming fiscal year. Vast new spending would be paired with significant tax increases on corporations and the wealthy. The budget includes the same changes to oil and natural gas industry tax provisions […]

  • Energy Tax Facts
  • 24 May 21

S&P Global Platts: Listen: Independent US oil, gas drillers fight higher taxes, leasing ban

The White House and Democrats in Congress are looking at a number of ways to increase taxes and federal revenues from the oil and gas industry as part of their climate and clean energy agenda. They’re looking at higher royalty rates on federal lands and eliminating deductions like intangible drilling costs and percentage depletion. S&P […]