The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

energy-taxes  energy-policy  oil-taxes  natural-gas-tax 

Stephen Comstock

Stephen Comstock
Posted March 20, 2013

Associate editor at The Atlantic Jordan Weissmann had a provocatively titled piece yesterday on taxes and the oil natural gas industry which may have generated some traffic, but it certainly did nothing to contribute to an honest debate.  His premise was to identify tax increases on the oil and natural gas industry as a: “safe ground to set up camp for the budget negotiations.”

The US imposes tax on net income, not gross income, which means that all businesses, whether they are farmers, manufacturers or oil companies, are allowed to deduct their normal business expenses from income in calculating their tax due.  Accordingly, the oil and gas industry is eligible for business deductions that are the same as or similar to those available to other taxpayers.  Contrary to what others may say, the industry does not receive credits, does not benefit of mandates and is not directly subsidized by the federal government. Weissmann’s one-sided opinion piece attempts to state otherwise by identifying specific items – so let’s look at them:

Expensing Intangible Drilling Costs ($13.9 billion): Since 1913, this tax break has let oil companies write off some costs of exploring for oil and creating new wells.

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trade  lng34  exports  energy-policy  energy-economy  domestic-energy-development 

Mark Green

Mark Green
Posted January 25, 2013

This week API, on behalf of the U.S. oil and natural gas industry, furnished comments on the Energy Department’s 2012 study of the impact of exporting U.S. liquefied natural gas (LNG). You can read them in full here, but let’s cover some of the main points.

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energy-development  energy-policy  energy-regulation  energy-investment 

Mark Green

Mark Green
Posted January 25, 2013

Another video interview from the State of American Energy event earlier this month in Washington, D.C. Here, Chevron’s Dan Fager talks about the pillars of sound, pro-growth energy policy – new access to U.S. oil and natural gas resources, common-sense regulation and tax policies that encourage new energy investment instead of discouraging it:

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keystone-xl  keystone-pipeline  jobs-creation  energy-policy  downstream 

Mark Green

Mark Green
Posted January 22, 2013

The decision by Nebraska’s governor to OK a new route through his state for the Keystone XL pipeline is based on a factual assessment of the project’s safety, as well as the economic benefits that would accrue.

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oil-sands  keystone-xl  energy-policy  economic-benefits 

Mark Green

Mark Green
Posted January 21, 2013

With more than four years of study and review of the Keystone XL pipeline seemingly nearing an end, there’s yet another study depicting jobs and economic benefits – that is, if President Obama will approve construction of the entire project.

This report comes from Creighton University economist Ernie Goss and his team, who project more than 5,000 new jobs a year and millions of dollars in investment in Nebraska from construction of the pipeline. You can read the Goss report here, but a few highlights: 

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domestic-energy-resources  energy-economy  energy-policy  exports  liquid-natural-gas 

Mark Green

Mark Green
Posted January 17, 2013

America’s newfound abundance of natural gas resources is a boon to the nation.  It is creating jobs, reducing home heating and electric bills and lowering energy and raw materials costs for businesses. … And the opportunity to do more is before us – to produce more natural gas, spur additional economic activity and create even more jobs – by serving international markets as well as American ones.

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energy-policy  manufacturing  regulation  energy-exports  liquid-natural-gas 

Mark Green

Mark Green
Posted January 11, 2013

Here’s one of the main things wrong with arguments some are making against the export of U.S. liquefied natural gas (LNG): They substitute narrow interests and agendas for the proved economic benefits of free trade to the entire United States – long demonstrated in the sale of countless other U.S. commodities to overseas buyers.

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state-of-american-energy  soae-2013  soae  energy-policy  domestic-energy  energy-101 

Mark Green

Mark Green
Posted January 7, 2013

With the 113th Congress about to convene and President Obama preparing to launch his second term, America’s oil and natural gas industry is ready to take a leading role in boosting the nation’s economy – largely through investments stemming from increased development of domestic oil and natural gas.

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energy-policy  fracking  hydraulic-fracturing  natural-gas  regulations 

Mark Green

Mark Green
Posted January 4, 2013

Here’s the crux of an unreleased (but leaked) New York Department of Environmental Conservation report that weighs the public health impact of natural gas development through hydraulic fracturing:

“…significant adverse impacts on human health are not expected from routine (fracking) operations. When spills or accidents occur, the department has identified numerous additional mitigation measures, including emergency-response planning, setbacks and buffers, so that significant exposures to people and resources on which they rely are unlikely."

Shorter version: Fracking can be done safely in New York.

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offshore-leases  hydraulic-fracturing  energy-production  energy-policy  domestic-energy  crude-oil  cellulosic-mandates  access 

Mark Green

Mark Green
Posted December 28, 2012

At year’s end it’s customary to put together “best of” lists – sometimes because there’s not much else to talk about. Not so with energy. In fact, there’s so much good news on the energy front we didn’t even have to go beyond the past 30 days to assemble a good list of information-delivering charts and graphs (and the blog posts that featured them). So here it is: “Best Energy Charts – (December) 2012.”

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