Energy Tomorrow Blog
The Truth on Oil and Natural Gas 'Subsidies'
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Stephen Comstock
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.”
The President’s $90 Billion ‘Anti-Stimulus’ Energy Tax Hikes
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Stephen Comstock
Posted April 11, 2013
Let’s dig into the details of the more than $90 billion (over 10 years) in new and targeted tax increases on America’s oil and natural gas companies that President Obama included in his FY2014 budget. Note: The tax provisions below are in no way “taxpayer subsidies” and are not unique to our industry. They constitute standard business deductions (some available to all other industries) and mechanisms of cost recovery – a fundamental and necessary component to a national income tax system. Here we go:
Raising Energy Taxes – The Wrong Approach
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Mark Green
Posted March 29, 2012
The President’s Energy Tax Hikes: Section 199 Deduction
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Mark Green
Posted February 14, 2012
Taxes and Business, There We Go Again
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Mark Green
Posted August 17, 2011
Taxing Domestic Production
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Mark Green
Posted May 11, 2011
Blogger Conference Call - ExxonMobil Earnings and Taxes
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Jane Van Ryan
Posted May 10, 2011
ETR 128 More Taxes Mean Less Revenue
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Jane Van Ryan
Posted March 15, 2011
Study: Tax Proposals Could Cut 150,000 Jobs
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Jane Van Ryan
Posted September 16, 2010