Intangible drilling costs (IDC) are “an ordinary and necessary business expense of the oil and gas industry,” and should only be modified as part of a broader tax reform package — and in combination with a lower, globally competitive corporate tax rate — according to Industrial Energy Consumers of America (IECA).
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Congress Urged to Keep Intangible Drilling Costs Tax Breaks
Intangible drilling costs (IDC) are “an ordinary and necessary business expense of the oil and gas industry,” and should only be modified as part of a broader tax reform package — and in combination with a lower, globally competitive corporate tax rate — according to Industrial Energy Consumers of America (IECA).
October 25, 2012
Court Rejects Sierra Club’s Plea to Block Keystone Pipe
In a major victory for pipelines, a federal court in western Oklahoma has denied a request by the Sierra Club and two other organizations to enjoin the construction of the Cushing, OK-to-Port Arthur, TX, portion of the Keystone Pipeline, which was slated to begin Monday (Aug. 6). It further rejected an attack on the legality of a water-crossing permit needed in pipeline construction.
August 7, 2012
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