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MIA: Oil and Gas Tax Breaks

MIA: Oil and Gas Tax Breaks

Tax breaks for vacation homes, wealthy estates and at least 10 other tax policies are listed on a memo drafted by Democratic members of the Budget Conference Committee as examples of "egregious tax loopholes" they may push to repeal.

 

Conspicuously absent from that list are tax breaks for the oil and natural gas industry, despite the fact that congressional Democrats and President Obama have repeatedly singled out this industry and targeted its tax breaks in a host of budget proposals and legislation.

While it's not clear why the industry was left off the list, something else is crystal clear: Almost every company and trade group in this sector, including the most powerful, the American Petroleum Institute, has made preserving their industry's tax policies their first, second and third priority in Washington.

Don't underestimate the power of deep-pocketed lobbying.

 

Amy Harder
(@AmyAHarder)
aharder@nationaljournal.com

TOP ENERGY NEWS

By Clare Foran (@ckmarie)

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OBAMA PRAISES ZICHAL ON LAST DAY IN OFFICE. The president's top energy and climate-change advisor will be succeeded by White House Deputy Director for Energy and Climate Change Dan Utech.

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STATES JOIN FIGHT AGAINST EPA REGS. The attorneys general of nine states, including Wyoming and West Virginia, are protesting EPA power plant regulations.

OBAMA NAMES MORE INTERIOR OFFICIALS. The president nominated Neil Kornze to oversee the department's Bureau of Land Management and Tommy Beaudreau as assistant secretary for policy, management and budget.

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GREEN GROUPS USE SOCIAL MEDIA TO GET MESSAGE OUT. Are environmental activists driving the conversation on fracking on social media?

HAPPENING MONDAY

WORLD BANK POLICY DISCUSSION. The Institute for Policy Studies (IPS) hosts a talk on the book Foreclosing the Future: The World Bank and the Politics of Environmental Destruction.

Got energy news? Contact us at energy@nationaljournal.com

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