Tag: percentage depletion

  • Energy Tax Facts
  • 26 Sep 14

Senate Finance Committee Talks Energy Taxes

This month, the Senate Finance Committee held a hearing on the U.S. tax code as it pertains to American energy development, including the role and future of certain provisions that impact America’s independent oil and natural gas producers. Present at the hearing was the Honorable Don Nickles, who served in the U.S. Senate from 1981 […]

  • Energy Tax Facts
  • 12 Jun 14

Washington Times (Op-Ed): Unfair efforts to punish the oil industry with taxes

The small and independent energy companies that have driven welcome developments such as the shale-gas boom in North Dakota, Pennsylvania, Ohio, Arkansas and elsewhere could be hit hard, too. Various proposals to alter percentage depletion and intangible drilling cost write-offs, tax-law sections that have equivalents in many other industries, are of special concern to them.

  • Energy Tax Facts
  • 6 May 14

Journal Record (Op-Ed): Former U.S. Rep. Martin Frost of Texas Highlights Importance of American Energy

Five years ago, independent oil and gas producers from Oklahoma and nearby states established the Domestic Energy Producers Alliance to make sure the industry has bipartisan support in Congress. The industry has a compelling story that has impressed both Democrats and Republicans. We’ve emphasized how net imports of oil and liquid fuels have fallen from […]

  • Energy Tax Facts
  • 24 Apr 14

Wichita Eagle (KIOGA’s Ed Cross): Independent producers generating a domestic energy revolution

The American oil and natural gas industry has been a bright spot in our economy, with benefits felt across the nation and here in Kansas. Innovations spurred by small businesses and entrepreneurs have generated a domestic energy revolution. American oil and natural gas production is up because the small businesses that make up the independent […]

  • 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, […]

  • 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 […]

  • 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 […]

  • 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 […]