Tag: API

  • Energy Tax Facts
  • 12 Jul 13

Study: Delaying IDC Recovery to Result in US Production, Job Loss

Delaying the oil and gas industry’s ability to quickly recover intangible drilling costs (IDC) would lead to significant losses in oil and gas production and jobs, and negatively affect the economics of many key oil and gas plays, according to a recent report commissioned by the American Petroleum Institute (API).

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  • Energy Tax Facts
  • 11 Jul 13

Politico Pro (sub req’d): API study finds repealing IDC deduction would cost 233,000 job losses and hurt the US economy

The Obama administration’s plan to alter tax deductions for some drilling costs would lead to the loss of 3.8 million barrels of oil equivalent per day from U.S. oil and gas fields, according to the American Petroleum Institute. A new study conducted for API by Wood Mackenzie concluded that President Barack Obama’s effort to eliminate […]

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