Oil and National Security
During the recent presidential campaign, we heard over and over again that energy dependence is an issue of national security. I read a recent report from the American Petroleum Institute that really...
View ArticleDo We Need an Energy ‘Czar’?
According to a report in the Wall Street Journal (subscription required), President-elect Obama is considering appointing and Energy “Czar” to coordinate U.S. policies on climate change, as well as...
View Article2009 Price Outlook
According to the most recent Short-Term Energy Outlook, the Energy Information Administration (EIA) projects an average oil price of $51 per barrel for 2009, down from the 2008 average of $100. The...
View ArticleNew Tax Laws for Oil and Gas
In October of this year, President Bush signed the Emergency Economic Stabilization Act of 2008. There are three divisions, the second division, Division B, is the Energy Improvement and Extension...
View ArticleWhere Do We Go Now?
Just a couple of months ago, with oil prices above $140 and gas prices above $4 a gallon, energy independence was one of the hottest topics in Washington and in the news. After the historic drop in...
View ArticleWindfall Profits Tax
A windfall profits tax is an idea floated by many that would tax an industry based on income in a single year that is much higher than its previous years. The idea became very popular in late 2008...
View ArticleAre we prepared for rising oil prices?
On February 2, T. Boone Pickens made the following prediction: “We got a break here, a little bit of a breather (with current oil prices), but within 60 days we’ll be back up to $60 oil and by end of...
View ArticleObama Administration’s Proposed Tax Increases on Oil & Gas
The proposed tax law changes for the energy industry contained in President Obama’s fiscal 2010 budget will have a major impact on U.S. energy producers if passed into law, and I don’t like what I see...
View ArticleTax Treatment of Delay Rentals
Due to the instability of the current economy, companies may find it increasingly difficult to begin production on oil and gas properties currently under lease. The deferral of production might result...
View ArticleSome Things Never Change – Obama’s Tax Plan for Oil and Gas Companies
For the second year in a row, President Obama has his tax sights set on the oil and gas industry. In the proposed fiscal 2011 budget submitted by the Obama Administration this past week, the President...
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