As a senator, candidate and now president, Barack Obama has regularly assailed oil companies. His mantra for action has been hit them with higher taxes and punish them with regulations. You know the words to his song: “We have subsidized oil companies for a century. That’s long enough.” “Tax giveaways aren’t right . . . and we […]
Over the last 12 months, the state has collected $11.3 billion in tax revenue — an all-time high, State Treasurer Ken Miller said Monday. The record tax receipt — $12.6 million higher than the previous record set in December 2008 — is an indication that Oklahoma has recovered from the Great Recession, Miller said. One […]
Craig Howard of Howard Energy Corp. discusses how cutting IDCs and Percentage Depletion would reduce his exploration and production budget by nearly one third.
Texas is the largest oil and gas employer in the nation, and the city of Houston continues to be one of the most important energy centers in the world. There are almost 400,000 oil and gas workers in Texas, and last year alone that number increased by nearly 35,000. Houston is booming, and the economic […]
The …upcoming debate over energy taxes and energy policy tells us a great deal about Houston’s economic future. Texas is the largest oil and gas employer in the nation, and the city of Houston continues to be one of the most important energy centers in the world. There are almost 400,000 oil and gas workers […]
Increasing oil and gas taxes is a favorite standby of Washington politicians, just one more policy they use as a political tool and fail to recognize the real-life impact on their constituents. Any increases in costs are passed onto consumers, so the politically correct idea of increasing taxes on rich oil companies had the effect […]
Repealing the federal tax provision allowing oil and gas producers to deduct certain intangible drilling costs (IDCs) effective Jan. 1, 2014, would cost 190,000 US jobs in the first year and would cut drilling investments in the US by $407 billion over 10 years, a new study commissioned by the American Petroleum Institute found. “The […]
The U.S. economy faces far more than cyclical troubles. It needs deeper, structural changes to substantially boost productivity and generate new jobs, the McKinsey Global Institute says in a new report entitled “Game Changers: Five Opportunities for U.S. Growth and Renewal.” “Structural problems have been brewing in the U.S. economy for decades,” the think-tank arm of the consulting firm […]
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