NGC: Tax proposals would harm gas industry
Nick Snow
OGJ Washington Editor
WASHINGTON, DC, Mar. 18 -- The Obama administration's proposed tax law changes would seriously damage a domestic gas industry, which is hurting already, the Natural Gas Council warned in a Mar. 17 letter to members of Congress.
The group, which is comprised of trade associations involved in the US gas industry from wellhead to burner tip, explained that investments in new US gas production come from three funding sources: selling the gas, obtaining credit from lenders, and securing private and institutional investors willing to commit capital to high-risk ventures.
"Unfortunately, new US natural gas projects are at risk. Dramatic reductions in natural gas prices this past year have reduced cash flow to producers, while the credit crunch has limited access to capital, and investors are more cautious than ever," the letter continued.
It said the White House's tax proposals, outlined in its proposed fiscal 2010 federal budget, would radically shift incentives for developing domestic gas, some of which have been in place since 1913. More...
11 comments:
Obama and his cronies are bent on destroying this nation. God help us.
how about it socialism here we come. screw obama he is worthless
Thank God something will get in the way of unrestrained gas drilling, which will poison our water. Water is the most valuable natural resource that this part of the country has. There are other ways to keep warm, but nothing can replace clean water. I don't know why people can't see that it won't matter how rich you are if, you can't drink the water.
The extra cost will just be passed on to the consumer in the end! Won't hurt the gas company a bit! Who are they kiddin? Brad
Natural gas drilling does not poison water. Injection thousands of feet into the earth will hardly polute your drinking water. If that was the case, Texas, Louisianna, Oklaome, Arkansas, etc... would not be growing economically. I don't know how deep the wells are in Roulette but I highly doubt they are four thousand plus feet. It is this mentality that is going to ruin an economic opportunity to get Potter County out of the Dark Ages. They can lease and drill my land any time they want.
Enjoy the change you voted for with obama!! unfortunatly we are going to be lucky to have any change in our pocket after obama is done!!!
drilling will lead to many jobs and prosperity to the area why is this such a problem?? people need to get a grip the environment will take its course the way it is meant to be.lets face it global warming will happen we cannot stop that.
Global warming is a scare tatic that is doing more harm than good. 250 million years ago the earth warmed up and the ice age ended. Those polluting dinosaurs must have all driven Hummers!!!
http://news.cnet.com/2300-11395_3-6128135-1.html
This is a link to a satalite image of a hole in the O-zone so 5:45, global warming is a hox huh? This hole is the size of north america. We (this countries youth) will pay for your mistakes as adults, so try not to be a total idiot about it. We may not be able to stop global warming but maybe we can help lighten the load.
do they have documentation of how fast the hole increases since the started taking pictures of it?
http://www.getf.org/cecs/Ozone_Study.pdf
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