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Linn Energy, LLC Message Board

  • norrishappy norrishappy Feb 13, 2013 6:59 PM Flag

    Re: tax tax increasea

    With natural gas dry drilling falling below production necessary to meet demand is this a wise thing to do? Of course not.

    With American oil EPs focusing on cost efficiency rather than production growth is this a wise thing to do? Of course not. This uncertainty has already depressed economic activity.

    Are these tax increases in the interest of LINE owners? Of course not.

    But this is what the OLB does 24/7.

    Obfuscate, dissemble, deceive, lie ..........

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    • Repeal Tertiary Injectants Deduction
      Tertiary injection expenses, including the injectant cost, can be fully deducted in the current tax
      year. Supporters of the favorable current treatment of these expenses point to the importance of
      tertiary recovery methods in maintaining the output of older wells, as well as the environmental
      advantages of injecting carbon dioxide, a primary tertiary injectant, into wells. Repeal of the
      deduction, or less favorable tax treatment of the expenses, would be likely to reduce oil output
      from older producing fields during periods when the profit margin, and the price of oil, is low.
      During a period of high oil prices, the repeal is likely to have a smaller effect on production
      Repeal Passive Loss Exception for Working Interests
      in Oil Properties
      Repeal of the passive loss exception for working interests in oil and natural gas properties is a
      relatively small item in terms of tax revenues, estimated at $82 million from FY2013 to FY2022.
      The provision exempts working interests, investments, in gas and oil exploration and
      development from being categorized as “passive income (or loss)” with respect to the Tax Reform
      Act of 1986. This categorization permits the deduction of losses in oil and gas projects against
      other active income earned without limitation, and is believed to act as an incentive to induce
      investors to finance oil and gas projects.

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