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Special Report on

The Oil Depletion Allowance

the oil depletion allowance special research report Photo by
A customer pumps fuel into his vehicle at an Exxon gas station in Dallas, Friday, Feb. 1, 2008. Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company, $40.6 billion, as the world's biggest publicly traded oil company benefited from historic crude prices at year's end. (AP Photo/Tony Gutierrez) HOUSTON — Exxon Mobil Corp. posted the largest annual profit by a U.S. company _ $40.6 billion _ on Friday as the world's biggest publicly traded oil company benefited from historic crude prices at the end of the year. Exxon also set a U.S. record for the biggest quarterly profit, posting net ...
In 1928, he founded the Voorhis School for Boys and became its headmaster. He retained the post into his congressional career. In the House of Representatives, Voorhis was a loyal supporter of the New Deal and compiled a liberal voting record. His major legislative achievement was the Voorhis Act of 1940 requiring registration of certain organizations controlled by foreign powers. After being re-elected by comfortable margins four times, he faced Nixon in 1946 in a bitter campaign in which Voorhis's supposed endorsement by groups linked to the Communist Party was made into a major issue. Nixon won the Republican -leaning ...
The $75 Million Liability Cap, Oil, And Power | The Daily Nigger
Here it is in all its blazing glory. The oil industry chimes in to remind everyone that if they wish to keep their existing POTUS, then they had better perk up and pay attention to what happened to John F. Kennedy when he decided to reduce the oil depletion allowance that unilaterally helps oil companies by lowering their tax burden. Here’s the comment on youtube underneath one of the various and sundry “leak”, aka gusher, videos circulating out there in the midst of what can otherwise be called a media blackout… And here’s the link to a review of the book Blood, Money & Power, which was published ... market research, surveys and trends
The Impact of Electric Car Subsidies
As oil continues to flow into the Gulf, it is becoming increasingly clear that this environmental disaster will be a major sticking point for voters come November. And I'm convinced this is why we're now seeing new House and Senate bills that, if passed, will increase incentives for electric vehicles. Sure, the timing is suspect... But if this helps bolster support for electric vehicles — and makes us some money in the process — then I'm all for it. The Biggest Investment of the 21st Century It's called the smart grid... and it's about to revolutionize the way we use our ... market research, surveys and trends


Oil Depletion Allowance
The first significant discovery of oil in Texas took place in Navarro County in 1894. By 1900 the Corsicana oilfield was producing more than 839,000 barrels of oil a year. This success prompted exploration in other parts of Navarro County. This led to the discovery of the Powell oilfield and by 1906 it was producing 673,221 barrels a year. Other discoveries took place at Sour Lake (1902), Humble (1905) and Goose Creek (1908). Some of those who became extremely wealthy as a result of these discoveries included industry trends, business articles and survey research
The Best Congress Oil Could Buy
Widely denounced as a �do-nothing� Congress, the 2005-2006 U.S. Congress did manage at least one notable accomplishment: It lavished more than $6 billion in royalty relief, tax breaks and other incentives on the oil and gas industry in the Energy Policy Act that was passed in 2005. The 2007-2008 Congress is quite different in composition, but the vast array of oil industry subsidies remains untouched. When Representative Nancy Pelosi, D-California, took over as Speaker of the House, she promised that in the first 100 hours of the new Congress, representatives would repeal subsidies to Big Oil. The Democratic House of ... industry trends, business articles and survey research
Doesn't BP have enough corporate spokespersons?
“It should be noted that BP is not exactly a bastion of free market capitalism. Rather, they are very vested in acquiring government subsidies, favorably slanted policies, and competition-hobbling regulation. BP has even been a major lobbying proponent of cap-and-trade because of certain provisions in the legislation it could profit from. Considering who lobbies for them and what they lobby for, my concern is that attempts to hold them strictly and fully accountable could end up being nothing more ... market trends, news research and surveys resources
The End of Oil's Protection Racket
Until the 1970s, the U.S. was a major oil-producing nation and its foundational economy, though much more diversified, had important similarities to today’s Russia, Saudi Arabia and Brazil. The U.S. blessing was to discover its oil early in the industrial revolution and to figure out how to mass produce it at the dawn of the age of the internal combustion engine. The U.S. was never a victim of the “oil curse” that can bring corruption and over-dependence on the single and singular resource but, like other governments, it paid its best energy industry protection money to keep the power coming. In the early ... market trends, news research and surveys resources


1 President Obama's Proposed Budget Will Destroy the Small ...
Mar 5, 2009 ... However, if the oil depletion allowance and intangible drilling costs ... Our CPA advised me that if we lose the oil depletion allowance, ... technology research, surveys study and trend statistics
Publication 535 (2009), Business Expenses
Depletion is the using up of natural resources by mining, quarrying, drilling, or felling. The depletion deduction allows an owner or operator to account for the reduction of a product's reserves. There are two ways of figuring depletion: cost depletion and percentage depletion. For mineral property, you generally must use the method that gives you the larger deduction. For standing timber, you must use cost depletion. If you have an economic interest in mineral property or standing timber, you can take a deduction for depletion. More than one person ... technology research, surveys study and trend statistics
Min-270 Handout The Minerals Depletion Allowance
that time, the 27.5% depletion allowance was accorded to oil and gas producers, whereby annual depletion charges to oil and gas producers were limited to ...
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How to help to make gas prices lower? - Yahoo! Answers
well my theory, is that we need to stop freaking using gas. We should use the darn public transportation, hell ride a bike, or even walk. I think we are the ones that are raising gas prices because we keep buying from the gas companies. I know that we need gas in our car to go to work, but sometimes we got to think out side the box. Ok lets say there was no gas in the world for a week. What would you do? I know i would ride my bike and before you know it the gas companies would be losing money and therefore the demand would go down. Remember when the PS2 game system came out. It was selling for $400 or higher and look right now ...
Who really shot and killed President JFK ? Why? - Yahoo! Answers
First, Kennedy's brains blew out the back of his head, meaning the fatal shot came from in front of him; anyone who has ever fired a bullet at a watermelon knows this. Second, the limo was brought to a near halt, only AFTER Kennedy received the fatal shot to the head, did the driver move the car away from the kill zone. Third, The Zapruder Film shows, secret service man, William Greer (The Limo Driver) turned around and pointed a shiny object at Kennedy, at precisely the exact instance that Kennedy took the fatal shot to the head. Forth, Jackie Kennedy, instinctively jumped out of the limo. WHY would a government agent ...