Tag: oil

  • Energy Tax Facts
  • 31 Oct 13

Oil & Gas Journal: Voters oppose new energy taxes, API plans to tell federal lawmakers

American Petroleum Institute lobbyists plan to remind members of the 113th Congress considering possible federal budget reforms in 2013’s final weeks that their constituents don’t support new energy taxes, said Stephen Comstock, API tax and accounting policy director. They specifically plan to cite findings of a recent Harris Interactive telephone survey API commissioned of 1,001 […]

  • Energy Tax Facts
  • 22 Oct 13

Oil and Gas Supply Chain Group Supports the IDCs Deduction

This week the Energy Equipment and Infrastructure Alliance (EEIA) sent a letter to leaders of the House Ways & Means and Senate Finance Committees urging members to reject any proposal to eliminate the expensing of intangible drilling costs (IDCs) as part of any comprehensive tax reform.  Significantly, the EEIA does not represent oil and gas […]

  • Energy Tax Facts
  • 18 Oct 13

My West Texas: IPAA Highlights Importance of Tax Code at Conference

A budget stalemate may have slowed government activity, but the oil and gas industry still should carefully watch several initiatives that could dramatically impact activity. Opening the annual Executive Oil Conference at the Horseshoe Tuesday, Ryan Ullman, director of government relations and political affairs at the Independent Petroleum Association of America, listed three areas for […]

  • Energy Tax Facts
  • 12 Jul 13

Study: Delaying IDC Recovery to Result in US Production, Job Loss

Delaying the oil and gas industry’s ability to quickly recover intangible drilling costs (IDC) would lead to significant losses in oil and gas production and jobs, and negatively affect the economics of many key oil and gas plays, according to a recent report commissioned by the American Petroleum Institute (API).

  • Energy Tax Facts
  • 11 Jul 13

Politico Pro (sub req’d): API study finds repealing IDC deduction would cost 233,000 job losses and hurt the US economy

The Obama administration’s plan to alter tax deductions for some drilling costs would lead to the loss of 3.8 million barrels of oil equivalent per day from U.S. oil and gas fields, according to the American Petroleum Institute. A new study conducted for API by Wood Mackenzie concluded that President Barack Obama’s effort to eliminate […]

  • Energy Tax Facts
  • 27 Jun 13

POTUS’ Climate Action Plan Wrong on O&G Taxes

This week, the President laid out his Climate Action Plan – a national strategy with the goal of mitigating climate change and preparing for its potential impacts. Of note was the President’s rhetorical support for natural gas as a key fuel for both reducing America’s carbon emissions while shoring up our national security. As the […]

  • Energy Tax Facts
  • 27 Jun 13

Fidelity: U.S. could become top oil producer

The United States will supplant Saudi Arabia and Russia as the world’s largest energy producer by 2017, according to the International Energy Agency (IEA). This tectonic shift in the energy power structure could have sweeping geopolitical and economic ramifications. While you may think that the U.S. oil boom makes all energy stocks attractive, our income […]