I don't know if you would call "accellerated deperciation" a subsidy, but we do take advantage of IRS tax incentives for drilling and exploration. Essentially the tax code allwos energy producers to rite off expenses much faster than would be otherwise allowed in a non energy business.
Changes in the tax code would have to be made and I would imagine the changes would have to be made over an extended period of time. I do not believe the government would just "end" the incentives abruptly.
If this sort of thing happens you can bet that the price of energy will rise and bite all energy consumers in the pocket.
Big THANK YOU to Mr. Obama and his GREENIEs. (NOT)
In any event I don't think it will effect Linn in the short haul. Making changes that are this widereaching, and that will effect the huge oil and gas industry, will not happen overnight. And never forget the energy industry helps a lot of senators and congressmen get ellected. It could mean losing their job if they were to vote for legislation that would harm the energy producing sector.
And the energy producers have a weapon of their own that is far more powerful than what washington has. The energy producers have the valve that can regulate the flow of energy. If the Government decides to screw the energy producers, they could easily pinch off the flow and make the price of energy double in the blink of an eye. Then run a PR campaign blaming the Government for the fiasco due to the cutting off of subsidies.
This admisnitration has it's head up it's ass! They cut off their nose to spite their faces.
Just another in a string of stupid decissions by this administration that serves to hurt the consumer in the end. Ethanol and the irregation water cut off in California are a couple of other stupid moves that come to mind.
This administration is the most corrupt in a long time. I think the American people expected change of a different kind, now the only thing to do is vote them all out and start over! Nothing good could come out of Chicago politics. We should have known.