President Jimmy Carter praises Sen. Russell Long of oil-rich Louisiana for voting “to do away with the oil depletion allowance, which was a very courageous thing to do.” 1978 ...

“Oil is not big business,” writes Steven M. Gorelick in his analysis on worldwide oil depletion, “it is colossal business.” We currently live in a world that can’t go on the same without ...

Many people dismiss the risks associated with oil depletion and climate change--even many who accept the two issues as problems. They judge those risks to be small or at least manageable.

This means factors like pollution and palm oil depletion will follow suit. All the more reason to get the most out of your bar soap from simple hacks like this. Sending other used items to ...

Increasing the oil and natural gas tax depletion allowance from 15 percent, where it has been since 1984, would enhance the profitability of wells and probably encourage new drilling.

President Biden's decision to reduce emergency U.S. oil stocks by more than 40% is receiving renewed attention amid the latest Middle East conflict that sent oil prices higher.

Over the ensuing nine decades, Congress has tinkered with the percentages and the companies eligible to receive them, but the oil depletion allowance has remained largely intact — and especially ...

Dwindling Reserves. The prime tar get of the critics is the oil depletion allowance. It permits owners to deduct from their taxable income 271% of the value that each well yields; more over, the ...

Depletion for Tax Purposes. When you begin receiving checks for oil and gas royalties, or you harvest timber or allow mining of other minerals, it's important to understand the depletion deduction ...

In 1926, Congress passed and President Coolidge signed legislation that came to be known as “the oil depletion allowance.” Based on the premise that mineral deposits are finite resources that ...