Tornado Alley (PROG)

[hap0206]

Oh my goodness -- a fact sheet from the environmental fanatics -- let's look at those facts
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Direct subsidies

Intangible Drilling Costs Deduction (26 U.S. Code § 263. Active). This provision allows companies to deduct a majority of the costs incurred from drilling new wells domestically. In its analysis of President Trump
Imagine being able to deduct the cost of drilling -- what a gift

Percentage Depletion (26 U.S. Code § 613. Active). Depletion is an accounting method that works much like depreciation, allowing businesses to deduct a certain amount from their taxable income as a reflection of declining production from a reserve over time
gosh, how terrible -- whood a thunk it -- Production from a well declines over time -- those crazies

Credit for Clean Coal Investment Internal Revenue Code § 48A (Active) and 48B (Inactive). These subsidies create a series of tax credits for energy investments, particularly for coal.
Image. a deduction for investing money in coal -- what a gift

Nonconventional Fuels Tax Credit (Internal Revenue Code § 45. Inactive). Sunsetted in 2014, this tax credit was created by the Crude Oil Windfall Profit Tax Act of 1980 to promote domestic energy production and reduce dependence on foreign oil.
Image. a deduction for investing money in oil -- what a gift
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this is fun -- wait till we get to Indirect subsidies