Tag: taxes

  • Energy Tax Facts
  • 26 Feb 14

IPAA Responds to Chairman Camp’s Tax Reform Proposal Affecting Independent Oil and Natural Gas Producers

Barry Russell, president and CEO, Independent Petroleum Association of America: IPAA President & CEO Barry Russell issued the following statement in response to Chairman Camp’s tax reform proposal released today. “IPAA appreciates the effort that Ways and Means Committee Chair Dave Camp has put into the development of a federal tax reform proposal.  This document […]

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  • Energy Tax Facts
  • 14 Feb 14

National Journal (IPAA’s Barry Russell): Embracing Natural Gas Is a No-Brainer

In his State of the Union speech last month, President Obama doubled down on his support for natural gas, calling it “the bridge fuel that can power our economy with less carbon pollution that causes climate change.” Is that the right decision? Why or why not? The president’s full-throttled endorsement of natural gas—both as an economic driver […]

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  • Energy Tax Facts
  • 12 Feb 14

What They’re Saying: Reactions to the 2014 SOTU

As President Obama highlighted in his 2014 State of the Union, oil and natural gas production continues to provide new opportunities for the American economy and manufacturing sector while boosting our national security. Yet this year the president again repeated a call to repeal certain tax provisions provided to the oil and natural gas industry. […]

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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
  • 13 Dec 13

Industry Responds to Chairman Baucus’ Tax Proposal

On December 13th, the Independent Petroleum Association of America (IPAA), American Petroleum Institute (API), America’s Natural Gas Alliance (ANGA), and other industry leaders sent a letter to Chairman Baucus regarding his recent tax reform proposal and its impact on a major recent success stories in the American economy – the oil and natural gas industry. […]

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  • Energy Tax Facts
  • 11 Dec 13

Houston Chronicle: IPAA Encouraged Budget Doesn’t Jeopardize Critical Oil and Gas Tax Provisions

WASHINGTON — The oil and gas industry dodged another bullet in the new congressional budget deal, which avoids spiking tax breaks long used by energy companies. Instead, the deal makes modest cuts to a government ultradeep-water research program and to a policy that lets companies collect interest on royalty overpayments. The budget agreement lawmakers unveiled […]

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  • Energy Tax Facts
  • 10 Dec 13

Big Sky Business Journal: IPAA’s Barry Russell Helps Explain Intangible Drilling Costs

Dave Galt, Executive Director for the Montana Petroleum Association, explains, “These aren’t ‘subsidies’. IDCs are part of a century-old accounting standard that encourages investment to provide foundation capital that makes production possible for small, independent companies especially.” This year marks the 100th birthday of a tax treatment that allows companies to attract capital and recoup […]

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