Gerald230 Wrote:
Apr 01, 2012 6:42 PM
I believe it is time to examine the need for the oil depletion allowances and other oil tax benefits because the technology now used by the industry has significantly lowered the risk of drilling a new well. But the cost per well is now 10 times higher also. These write-offs were inserted in the tax code for the social engineering of motivating high risk investment by the drillers. But the write-offs should be reduced over a few years to avoid the industry shock that will come out as price raised at the pump.