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Politics : Politics of Energy
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To: Alastair McIntosh who wrote (24846)1/15/2011 12:12:34 PM
From: Road Walker1 Recommendation  Read Replies (2) of 86354
 
You do realize that it is only a timing issue.

Timing is huge, and can be manipulated. Say you are going to make $1M this year and pay $300K in taxes. Or you can invest that $300K in a oil well, before the fact, and pay no tax. You know what your accountant is going to say?

The government is, in essence, financing the drilling. That is a huge subsidy, and many oil wells wouldn't be drilled without it.

And yes accelerated depreciation is also a subsidy, just not as fast or blatant and not permanent. ICD is a sweetheart deal only the oil industry enjoys.
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