“It’s one thing for policies to accelerate investment activity or production of certain products, but it is an entirely different matter to write laws that would punish a particular industry, especially one that is so fundamental to our economic growth and national security.”
“…Oil and natural gas tax policies will continue to draw attacks from those anti-oil and natural gas factions that want to cripple American production. Much of the rhetoric surrounding these attacks will hide behind the red herring of “tax subsidies for Big Oil” when the reality is that the tax provisions are not “subsidies’ but […]
Today, Senate Finance Committee Chair Ron Wyden, D-Ore., and 24 colleagues introduced the Clean Energy for America Act, legislation “to overhaul the federal energy tax code, create jobs and combat climate change.”According the Senators, “the current system of energy incentives is overly complex and far less effective than it should be, with more than 40 different energy tax incentives, including permanent subsidies for Big Oil… The Clean […]
The federal tax code is voluminous and complicated. Just about everyone who has filed a federal income tax return knows how complicated it can be. However, attempts to simplify and shorten the tax code have failed time and time again, because the tax laws and regulations have been used over and over again to encourage […]
The small and independent energy companies that have driven welcome developments such as the shale-gas boom in North Dakota, Pennsylvania, Ohio, Arkansas and elsewhere could be hit hard, too. Various proposals to alter percentage depletion and intangible drilling cost write-offs, tax-law sections that have equivalents in many other industries, are of special concern to them.
By Congressman Charles W. Boustany, Jr. (LA-03) In today’s age of thirty-second sound bites and fiery rhetoric, the oil and gas industry continues to come under heavy attack. Critics cite “subsidies” and “loopholes” as means by which the industry avoids “paying its fair share.” However, that’s simply not reality. An industry that delivers over $86 […]
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