IPAA president and CEO
I am proud to announce the launch of a new IPAA educational campaign, Energy Tax Facts. This campaign and website (http://energytaxfacts.com) will explain the often complicated tax provisions and policies that apply to American independent producers.
On April 10, President Obama released his budget proposal that includes dramatic new obstacles for our industry. IPAA’s campaign will focus on the vital tax provisions that currently underpin American energy production and the 7,000 independent oil and natural gas producers that rely on these long standing provisions to continue producing safe, reliable, American energy and jobs.
The deductions provided to our industry are functionally no different than those provided to technology companies for research and development, or to farms for fertilizer and animal feed. That is why IPAA is pleased to announce our new campaign and website, a program to speak plainly and set the record straight on American energy and the critical tax structure behind it.
With this campaign, IPAA will continue to fight to ensure that historical provisions, such as the intangible drilling costs deduction, percentage depletion deduction, and passive loss exclusion are maintained - allowing independent producers to continue investment and exploration here in the United States.
I invite you to visit energytaxfacts.com to learn more about the campaign. On the site you will find a short video on the real facts behind American energy, fact sheets, resource material, video testimonials, and more. Come back often as the site will be frequently updated with new features and information to educate policymakers and the public on the facts about domestic energy production and the US tax code.
Thank you for your ongoing support of IPAA. If you have any questions or concerns, as always, please don’t hesitate to contact me.