Opponents of oil and gas development have successfully perpetrated a lie by parroting the “end subsidies to oil and gas” talking points. But the facts show the claims of “subsidies” and “giveaways” are misleading at best. Oil companies do not receive government subsidies, which are defined as “grants or gifts of money.” Nor do they […]
Under the presidency of Barack Obama, the energy policies of our nation are shaped largely by environmental groups who want to end the use of fossil fuels that power our economy and account for more than 15 million jobs. The administration’s aims have been painfully evident from the beginning. Its first step was to ban […]
The current conflict in the Middle East only underscores the need for increased domestic energy production. Unrest in oil producing regions around the world will always cause fluctuations in the price of oil. Markets will always react to uncertainty, whatever the source. At its core, U.S. energy independence is about freedom. When the U.S. is […]
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 […]
For more than a year, we’ve heard President Barack Obama proclaim that he supports an “all-of-the-above” energy strategy for America, including increased oil and gas production. But his actions suggest otherwise. At present, all of the Atlantic and Pacific seaboards, along with the vast majority of federally owned lands, remain off-limits to new exploration and […]
Oil and natural gas producers opposing efforts to change tax treatments enjoyed by the industry are directing legislators’ attention to a new study on what repealing the Intangible Drilling Costs deduction would cost. The study, commissioned by the American Petroleum Institute, said eliminating that one tax deduction would cost the country 190,000 jobs and reduce […]
The energy industry is adding to the U.S. economic recovery with the International Energy Agency predicting that we will be the largest producer of crude oil by 2020. The unemployment rate in North Dakota is 3.1 percent and 3.9 percent in South Dakota due to the expanding oil industry. Yet the Obama administration continues to […]
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, […]
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