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Energy Tomorrow Blog

Energy For America - Not Higher Taxes

access  taxes  tax revenues  jobs 

Mark Green

Mark Green
Posted July 19, 2013


Some important fact-telling about the president's proposals to raise energy taxes and why there's a better way to raise revenue for government while also increasing domestic oil and natural gas production. 

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Fairness, Job Creation, Energy Security…and a New Study

Energy 101  jobs  Jobs and Economy  Security and Access  access  taxes 

Mary Leshper

Mary Schaper
Posted July 11, 2013

From time to time, a few politicians get the not-so-bright idea to try to repeal the tax deduction for intangible drilling cost (IDCs). A new study out today from Wood Mackenzie shows what would happen if this cost recovery measure was repealed effective January 1, 2014.

During a conference call with reporters, API’s director of tax and accounting policy Stephen Comstock noted that IDC expenses including wages, fuel, and hauling costs typically represent 70 to 90 percent of the cost of a completed well. Comstock:

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The Right Path to More Revenue for Government

job creation  Energy 101  taxes  access 

Mark Green

Mark Green
Posted July 2, 2013

A post on The Hill’s Congress Blog by the Information Technology and Innovation Foundation’s Matthew Stepp and Megan Nicholson caught our eye:

 “… we suggest Washington policymakers raise at least $1 billion per year in new revenue from increased fees on oil and gas drilling, to be invested in breakthrough clean energy research at the Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E).

 Now, we’re used to folks wanting to increase taxes and other fees from oil and natural gas to pay for their pet projects. But instead of “increased fees” maybe Washington policymakers should just let us do our jobs. The authors note:

 “According to the Department of the Interior, oil and gas drilling revenue from federal lands increased 56 percent since 2000, averaging $11 billion per year.”

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Energy Today – June 4, 2013

alaska  exports  hurricane preparedness  imports  keystone xl pipeline  natural gas  oil pipeline  taxes 

Mary Leshper

Mary Schaper
Posted June 4, 2013

Fox Business Oil and Natural Gas Industry Readies for Hurricane Season

API’s Rayola Dougher stopped by Fox Business and outlined measures the industry takes to prepare its employees and facilities for the threats posed by hurricanes. “Worker safety is the industry’s top priority,” Dougher said.

CNN MoneyU.S. Steps Up Natural Gas Exports

With the Energy Department granting a second liquefied natural gas export license last month, the U.S. might soon see the approval pace quicken on the remaining export applications, CNN reports.

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The New York Times Looks at Corporate Taxes

natural gas  oil taxes  fairness  Energy 101  Industry  taxes 

Mark Green

Mark Green
Posted May 28, 2013

Neat interactive infographic in this weekend’s New York Times Sunday Review, plotting the corporate income tax rates paid by various U.S. companies from 2007-2012 (according S&P Capital IQ):

NYT Taxes

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Energy Today – May 22, 2013

exports  fracking  keystone xl pipeline  lng  natural gas  taxes 

Mary Leshper

Mary Schaper
Posted May 22, 2013

The Hill’s E2 WireSenators Warned of ‘Narrowing’ Opportunity to Increase Natural Gas Exports

In an ongoing series of hearings focused on American natural gas exports, the Senate Energy Committee heard from panelists on the pending LNG export applications. The president of Sempra LNG noted that “if we wait too long … we will lose the jobs” associated with U.S. LNG projects.

National JournalGraphic: Keystone XL is More Than a Pipeline

The House is set to vote on legislation that would approve construction of the Keystone XL pipeline today. In advance of the vote, NJ has an infographic that details everything from the project’s route size and how much oil it will deliver to its supporters and opponents.

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Energy Today – April 30, 2013

keystone xl pipeline  fracking  gasoline taxes  environmental impact 

Mary Leshper

Mary Schaper
Posted April 30, 2013

BloombergApprove Keystone Now

Bloomberg’s editorial board argues that rather than encouraging more study on the Keystone XL pipeline, President Obama should “now prod the State Department to move as fast as possible” to approve the project.

AEI Carpe Diem BlogTexas Oil Output Continues

Mark J. Perry writes, “The exponential increase in Texas oil production over the last several years is nothing short of phenomenal, and is a direct result of … game-changing drilling technologies in America that have now revolutionized the nation’s production of shale oil.”

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Energy Earnings, Taxes and the Right Path for America

earnings  taxes 

Mark Green

Mark Green
Posted April 26, 2013

An interesting discussion this week at a Politico Pro event hosted by API on the impacts of tax policy on the U.S. energy sector – timely, because if past is prologue oil and natural gas earnings reports this week and next likely will be accompanied by new calls for higher industry taxes. Let’s take a look at each issue.

First, earnings. Reported first-quarter earnings for America’s largest oil and natural gas companies reflect big companies with correspondingly big operations and investments. Yet, looking at earnings per dollar of sales helps contextualize the numbers. While not all oil and natural gas companies had reported their first-quarter earnings as of week’s end, here’s how that measure looked in the last quarter of 2012:

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Energy Today – April 25, 2013

exports  fracking  lng  natural gas  taxes 

Mary Leshper

Mary Schaper
Posted April 25, 2013

Fuel Fix BlogReport: Petrochemical Plants See Big Benefits from Low-Cost Natural Gas

Low-cost shale natural gas has made North America – specifically the United States – a more competitive region for petrochemical producers. The sector has plans to add $120 billion in investments through 2030, according to an IHS analysis. 

AEI Ideas Carpe Diem BlogSpectacular Rise in America’s Oil Output

The U.S. last week reached a 21-year  high for domestic oil production, more than 7.3 million barrels of oil per day, something that is “nothing short of phenomenal,” writes blogger Mark J. Perry. The last time U.S. output exceeded the 7.3 million bpd mark was in 1992.

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Energy Today – April 16, 2013

epa  ethanol  greenhouse gases  hydraulic fracturing  keystone xl  taxes impact on business  energy taxes 

Mary Leshper

Mary Schaper
Posted April 16, 2013

LA TimesEPA: U.S. Greenhouse Gases Drop 

The newspaper highlights the latest good news from the EPA: Increased use of natural gas, much of it developed with  hydraulic fracturing, has helped the United States lower its greenhouse gas emissions 1.6 percent from 2010 to 2011 and nearly 7 percent since 2005.

Roll CallRedford: Keystone XL an Environmentally Sound Way to Enhance Energy Security

Alberta  Premier Alison Redford’s  op-ed argues that Canada is “the safest, most secure and responsible energy supplier to the United States and a reliable trading partner.” This comes after her recent visit to the U.S. advocating  approval of the Keystone XL pipeline project.  Approving the pipeline “is the choice of reason,” she writes.

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