Taxes

Tax Preparers Work Night Shift As Tax Deadline Nears

With tax reform on the agenda in Washington this year, the oil & gas industry is paying close attention. One idea is to eliminate a provision that allows companies to write off intangible drilling costs. The industry argues this tax incentive allows them to continually invest in capital-intensive drilling programs and the country’s oil and… Keep reading →

US-ENVIRONMENT-OIL-KA

After a handful of false starts and accidents, Shell’s multi-billion dollar bet on offshore Alaskan oil and gas  exploration was put on hold for 2014. And now a Coast Guard report claims the oil major prioritized financial interests over safety with its fateful decision to tow a drilling rig to Seattle for repairs on New Year’s… Keep reading →

Dow Chemicals Plans To Layoff 5,000 Employees

The US has gone from a net chemical importer in 2011 to an exporter with anticipated export revenue of almost $30 billion by 2018, thanks in large part to comparatively cheap natural gas and power prices. “US groups such as ExxonMobil, Dow Chemical, Chevron and Phillips 66 are among the leaders in investing in new… Keep reading →

View of a tank containing processed oil

The secondary laws needed to enact Mexico’s historic constitutional changes that break state oil company Pemex’ 75-year monopoly on oil & gas development will reportedly be released mid-March. Additional laws covering royalties and taxes, however, will not be finalized until September. [Reuters] The Nymex natural gas futures contract for March delivery closed at $6.149 per… Keep reading →

Tax Preparation Gets Underway Ahead Of April Deadline

Shifting the United States’ energy sector to cleaner, more energy efficient systems is a long process and one that has been tackled in many ways throughout the years. In December, Senator Max Baucus, outgoing Chairman of the Senate Finance Committee released a staff discussion draft on proposed energy tax reform. There is a long history… Keep reading →

President Obama Delivers Economic Address At Steel Plant Near Pittsburgh

Energy issue positives from President Obama’s State of the Union address Tuesday night: Crediting surging domestic oil and natural gas production for adding jobs, creating economic growth and revitalizing the manufacturing sector. Recognizing that because of domestic output the U.S. “is closer to energy independence than we have been in decades.” Pledging to “slash bureaucracy” and streamline… Keep reading →

President Obama Visits Largest Photovoltaic Plant In U.S. In Nevada

President Obama proclaimed in his 2014 State of the Union address that his “all the above” energy strategy is working. He then directed the focus to one specific renewable energy source, stating the following: “Now, it’s not just oil and natural gas production that’s booming; we’re becoming a global leader in solar too. Every four… Keep reading →

President Obama Delivers State Of The Union Address At U.S. Capitol

We saw an interesting evolution of Barack Obama as an energy president on display last night in his fifth official State of the Union address. You might say the president got real. He was more emphatic than ever about the reality of climate change. He let his affection for natural gas blossom into a full-fledged love… Keep reading →

Senate Resumes Deliberations On FY2014 Budget Resolution

As Beltway types rush to make their opinions known on Senator Max Baucus’ energy tax revision proposals before a response deadline at the end of this month, financiers are scrambling to get deals together that can support renewable energy projects already underway. Tax policy has been a major component of energy policy in the US… Keep reading →

Activists Hold Demonstration Against California Big Oil Producers

ExxonMobil’s Ken Cohen highlights the tax payments made by some of the largest US-based oil companies, three of which – Exxon, Chevron and ConocoPhillips – appear in a list of the Top 10 corporate tax payers in 2012 compiled by 24/7 Wall Street.  “In fact, ExxonMobil and Chevron are ranked #1 and #3 respectively, with… Keep reading →

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