Tag: percentage depletion

  • Energy Tax Facts
  • 10 Apr 14

Broad Resources Industry Coalition Urges Preservation of Percentage Depletion Tax Deduction; Repeal Would Put Jobs at Risk

Washington, D.C. – The tax reform discussion draft released recently by House Ways and Means Committee Chairman Dave Camp (R-MI) would repeal the percentage depletion deduction. A broad group of resources industries trade associations, listed below, urges Congress to reject this unwarranted proposal that would significantly harm the competitiveness of American resources producers. U.S. mineral, […]

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  • Energy Tax Facts
  • 30 Jan 14

SOTU Emphasizes Importance of Continued American Energy Production

This week, President Obama took the stage for the 2014 State of the Union to reflect on the past year, project his plans for  2014, and – as he has done in many years prior – emphasize the critical role of American energy for the U.S. economy. As the President highlighted, the United States is […]

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  • Energy Tax Facts
  • 15 Jan 14

Percentage Depletion: Save a Stripper Well

By Jessica Sena In 1926, Congress passed an accounting standard to address the closure of oil and gas businesses across the country, and to spur investment in the robust development of American natural resources. Prior to this, the only deduction for mineral resources wascost depletion, which did not provide sufficient opportunity for smaller, independent businesses to retain revenues to […]

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  • Energy Tax Facts
  • 3 Sep 13

ABQ Journal (Op-Ed): Repeal of the IDC deduction could have a major impact on New Mexico

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 […]

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  • Energy Tax Facts
  • 1 Jul 13

Forbes: The President’s Climate Speech and the Role of Natural Gas

Actor and anti-Fracking hysteria-monger Mark Ruffalo went a bit over the edge on Tuesday (as is his habit), lashing out at President Obama for failing to ban hydraulic fracturing in his speech on “climate change”.  Ruffalo was quoted by Politico as follows: “Obama deserves praise for prioritizing climate change, but if he’s serious he needs to […]

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