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Because of 15 years of tax loss carryforwards the U.S. tight oil
sector pays little to no Federal income tax. THAT'S a fact, Jack. Google it.
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Quote Stuff
U.S. Department of Energy said recently filling the nation’s strategic petroleum reserve will require $20 billion and several years to complete. Chris Wright, energy secretary in the administration of new president Donald Trump, said March 7 he will seek $20 billion to restore holdings “close to the top.” The SPR, world’s largest emergency crude oil stockpile with capacity to store 727 million barrels, now holds about 395 million barrels.
Can you imagine the world's most industrialized nation, with the strongest economy in world history, with a natural gas pipeline network like this, above, to still be flaring a little south of 1 BCFGPD? Flaring it. Burning it.
Wasting it like it was nothing.
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The materials provided on this site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. I may make data related mistakes occasionally; if you use my opinions about oil reserves or shale well economics for financial purposes, to buy or sell stocks, your nuts. Don't do that. If I have used a photograph incorrectly it was for educational purposes and I have done my best of to give credit where credit is due. My stories are all true, slightly embellished, perhaps, but true; I don't change names to protect the guilty. I am as accurate as possible about history and historical facts; I work very hard at that.All rights are reserved, whatever that means. Don't blame me, I didn't do it.