Tornado Alley (PROG)

[hap0206]

https://www.investopedia.com/articles/07/oil-tax-break.asp
wow, spend a dollar, get to deduct a dollar - what a break

https://wallstreetinvestmentsgroup.com/oil-and-gas-tax-breaks-deductions/
woopdii do -- you get to offset your losses against other income -- what a break

https://newrepublic.com/article/162842/tax-breaks-fossil-fuel-companies-inflated-profits-oil-gas-drilling
a provision allowing them to expense so-called intangible drilling costs, or IDC, rather than depreciate them over many years; the accelerated amortization period for geological and geophysical expenses, allowing drillers more quickly to write off those expenses; and the percentage depletion allowance, a 15 percent deduction on gross revenue year after year
wow, spend a dollar, get to educt a dollar, what a break

https://psmag.com/news/trumps-tax-plan-provided-massive-tax-breaks-to-the-oil-industry
Many of these companies garnered such benefits using a policy of accelerated depreciation, which allows companies to write off capital investment costs significantly faster than the expiration of these investments, allowing them to drastically reduce their tax rates. According to the report, Chevron reported $290
million of depreciation-related tax breaks in 2018, and Halliburton reduced its taxes by $320 million.
wow, once again, spend a dollar, get to deduct a dollar, what a break


https://www.usnews.com/opinion/economic-intelligence/2014/08/06/the-surprising-truth-about-oil-and-gas-company-corporate-tax-rates
Other tax and accounting provisions include: special percentage depletion allowance, which can be used in some cases to claim tax deductions in excess of investment; deduction for tertiary injectants, which allows companies to deduct some costs immediately instead of capitalizing them and depreciating the cost over the life of the investment; amortization period of geological and geophysical costs, which for smaller companies is reduced to two years; last-in, first-out accounting, which allows companies to assume that the oldest (and presumably cheaper) barrels of oil remain in inventory reducing tax burdens; domestic production activities deduction (Section 199), which allows an additional deduction from the tax rate for manufacturing in the US – roughly one-third of all US corporate activity qualifies for the deduction, including oil and gas production.
It's the same refrain -- all money belongs to the government -- any deduction for money spent is a tax benefit

geez

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