Posted September 18, 2014
Since its inception the U.S. tax code has allowed taxpayers to recover business costs and be taxed only on net income – the idea being that quick recovery of costs would help spur reinvestment and support business expansion. This, in turn, boosts the economy and serves the national interest.
It is working in energy. Because of the cost of drilling wells and the need to invest in a depleting asset, cost recovery and reinvestment is an important part of the reason America has an energy revolution today. Mechanisms like the one for intangible drilling costs (IDC) help support the entrepreneurial risk-taking and investment that keep the revolution going.
Posted January 29, 2014
Contrary to what some in politics, the media and most recently, the president during the State of the Union, have said, the oil and natural gas industry currently receives not one taxpayer “subsidy,” “loophole” or deduction. Since its inception, the U.S. tax code has allowed corporate taxpayers the ability to recover costs. These cost-recovery mechanisms, also known in policy circles as “tax expenditures,” should in no way be confused with “subsidies” – direct government spending or “tax loopholes.”
Posted December 13, 2013
Bloomberg Poll: 56 Percent Say Keystone XL Would Help U.S. Energy Security
Bloomberg Businessweek: More Americans view the Keystone XL oil pipeline as a benefit to U.S. energy security than as an environmental risk, even as they say Canada should do more to reduce greenhouse gases in exchange for approval of the project.
A Bloomberg National Poll shows support for the $5.4 billion link between Alberta’s oil sands and U.S. Gulf Coast refineries remains strong, with 56 percent of respondents viewing it as a chance to reduce dependence on oil imports from less reliable trading partners. That compares with the 35 percent who say they see it more as a potential source of damaging oil spills and harmful greenhouse gas emissions.
Read more: http://buswk.co/1gwdBJq
Posted August 28, 2013
Posted May 11, 2011
Jane Van Ryan
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