Taxes

Balance Of Power At Stake As Midterm Elections Draw Near

Reports that a new Obama Administration climate plan seeks to circumvent congress have democrats and republicans up in arms. The alleged plan would create binding agreements with other governments that fall short of an actual treaty which would require a majority senate vote many see as unlikely. “Republicans have also sought to portray Obama as… Keep reading →

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Maria van der Hoeven, Executive Director of the International Energy Agency (IEA) spoke last week at the two-day Energy Information Administration (EIA) conference in Washington, D.C. expressing her view – as reported by Jennifer A. Dlouhy for fuelfix.com – that “ending ‘wasteful fossil fuel subsidies’, which may encourage overconsumption of oil and gas, particularly in… Keep reading →

Red Bull Global Rallycross 2014

Former Treasury Secretary Hank Paulson’s endorsement last week has put the carbon tax in the spotlight. But don’t be fooled: even with increased visibility and the wide endorsement of economists – and with a proposal or two floating around on Capitol Hill – turning U.S. energy policy in a cleaner, more climate-friendly direction continues to… Keep reading →

Fuel Shortage Eases A Bit In South China

Malaysian state company Petronas has agreed to sell a 15% stake in its proposed Pacific NorthWest LNG export facility to be sited in British Columbia, and a 15% stake in the upstream shale assets designated to feed the plant to Chinese state-controlled Sinopec. Taking a page from Japan’s LNG supply playbook, which has companies secure… Keep reading →

Oil Prices Rise As BP Shuts Pipeline

BP announced yesterday it will sell interests in four Alaska North Slope assets to Hilcorp, a comparatively small, independent, Texas-based operator. BP says the divestment will help focus on increasing output from the giant Prudhoe Bay field and an ambitious LNG export project. “There are some big benefits from this transaction,” said Janet Weiss, President… Keep reading →

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 →

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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 →

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