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Re: [hreg] Depletion allowance.

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  • William & Cynthia Stange
    I second the motion!! Let the monopoly that be, be required to self-invest into clean renewable PROVEN energies. I wholly believe CSP generation can be
    Message 1 of 3 , Jun 29, 2010
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      I second the motion!! Let the monopoly that be, be required to self-invest into clean renewable PROVEN energies. I wholly believe CSP generation can be utilized in Texas for sure. We are all part of steering the course of the future, time to make a slight course change.
       On media coverage this morning surrounding not only Gulf coverage but tropical storm action were all the "clean coal" commercials. It seems like such a throwback into the last few centuries instead of the 21st.
      Long may we sun,
       the other Bill
       An interesting group                 http://iucn.org/


      From: Tyra Rankin <tyra@...>
      To: hreg@yahoogroups.com
      Sent: Mon, June 28, 2010 12:19:45 PM
      Subject: RE: [hreg] Depletion allowance.

       

      Great idea, Bill!  Cost/benefit analyses I’ve read for depletion allowances found that the allowances were not cost effective and did not achieve the desired objective of helping better manage oil and gas reservoirs.  Requiring long term investment in renewables would be a much better use of the tax incentive.

       

      Tyra

       


      From: hreg@yahoogroups. com [mailto: hreg@yahoogroups. com ] On Behalf Of William S
      Sent: Monday, June 28, 2010 9:21 AM
      To: hreg@yahoogroups. com
      Subject: [hreg] Depletion allowance.

       

       

      I had a thought. The depletion allowance for the oil companies is to compensate them for the depletion of the resource. (15% of gross revenue) We all know that oil is finite - we are transitioning to the harder to get oil. I wish there was a way to divert the depletion allowance to require the oil companies to invest in solar, and sustainability. This is a business decision, and some of the oil companies are doing this - BP Solar for instance. The depletion allowance provision in the tax code needs to be re-written to encourage investment in longer term energy sources.

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