President Obama’s budget proposal to wipe out $36.5 billion in tax breaks for the oil and natural gas industry in fiscal year (FY) 2011 — notably the popular expensing of intangible drilling costs (IDC), which independent producers contend is critical to their business — will meet with resistance in Congress, say energy analysts with FBR Capital Markets.
Wipe
Articles from Wipe
Super-Bearish Storage Likely to Punish Weekend Prices
With a southeastward-moving cold front starting to wipe out much of the eastern heat that had boosted prices as the week began, the cash market continued to decline Thursday except for some flat to barely higher San Juan/Rockies numbers. In most cases, however, the drops were smaller than those of the day before. Thursday’s losses tended to range from about a nickel to a little more than 30 cents, with the largest ones being recorded in the Northeast.
June 27, 2003
Charges Wipe Out PacifiCorp 1Q Earnings
The cost of PacifiCorp’s failed attempt to buy Britain’s TheEnergy Group showed up in its first quarter earnings report. Thecompany reported first quarter 1998 earnings on common stock of$104 million, or 35 cents/share, excluding $70 million charge forU.S. job cuts, and a $54 million charge for the terminated bid forEnergy Group. Including these charges, the Company reported a losson common stock of $20 million, or 7 cents/share.
May 6, 1998
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
