Shale’s Next Battle: Fair Treatment Under the Tax Code

Politicians are once again demagoguing and attempting to demonize “Big Oil & Gas” over the taxation issue. No, we’re not talking about severance taxes. We’re talking about accounting deductions that oil and gas companies take to reflect depletion of assets. Flying under the banner of “eliminating tax loopholes,” some politicians want to strip away deductions from oil and gas companies–while leaving the same deductions in place for other industries. It is the worst kind of sleazy attack on the o&g industry. William Shughart, professor at Utah State University, brings us up to speed on the latest under-the-radar attack on the shale industry…

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