• Energy Tax Facts
  • 13 Aug 21

Journal Record: Simmons : Intangible drilling costs deduction in crosshairs

By Brook A. Simmons, President of The Petroleum Alliance of Oklahoma

The absurdity of U.S. President Joe Biden’s energy and national security policy becomes clearer by the day.

Having committed his presidency to creating artificial U.S. energy scarcity by blocking pipelines, slowing crude oil and natural gas development on federal lands, and tying the U.S. energy industry up in regulatory red tape, Biden now begs OPEC+ to pump more oil.

America’s global rivals must be doubled over in laughter as prices at U.S. gasoline pumps rise.

The U.S. Senate’s passage of massive clean energy, environment, infrastructure and budget reconciliation bills will be remembered as the way the Left advanced the Green New Deal through corporate welfare. If the bills clear the U.S. House of Representatives, Democrats will target the U.S. crude oil and natural gas industry for higher taxes to help pay for it. …

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