So, another Obama Administration budget, another opportunity taken to demagog the oil and natural gas industry.
Baker Hughes provides oilfield services, products, technology and systems globally to the oil and natural gas industry.
The oil and natural gas industry already supports 9.2 million American jobs, accounts for 8% of the domestic GDP, and generates 78% of total American energy production.
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There is no doubt that the Nigerian oil and natural gas industry can perform more efficiently and on a greater scale and that reform is required to achieve this.
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As such, it is an unfortunately excellent example of the sort of inaccurate reporting about the oil and natural gas industry that takes place in the American media many times every day.
ConocoPhillips is the third largest oil company in the U.S. It operates in all sectors of the oil and natural gas industry such as exploration and production, midstream, refining and marketing, and petrochemicals.
The foreign tax credit was designed to prevent American companies, like those in the oil and natural gas industry, from being double taxed on foreign income so they can compete in the global marketplace.
Continued efforts by these groups represent a long-term threat not just to the oil and natural gas industry, but to any project that must turn dirt to be completed, including highway projects, water projects, housing developments, etc.
Democrats have suggested increasing revenues by closing some tax loopholes, including tax breaks for the oil and natural gas industry, for businesses that have outsourced labour from the US, and ensuring millionaires pay a tax rate of at least 30%.
Instruct whomever becomes Interior Secretary to recognize that the states can do a far better, more efficient job of regulating hydraulic fracturing, and the oil and natural gas industry in general, than his or her Bureau of Land Mangement (BLM) can.
One of the more interesting phenomena related to the media coverage of the oil and natural gas industry in recent years has been the massively disproportionate attention paid by reporters and editors to a couple of degreed geologists, David Hughes and Art Berman.
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But there are some actions the President and his administration could take in a second term that would make us less dependent on imported oil from hostile nations, increase efficiency, increase the economic activity generated by the oil and natural gas industry, and do it all without harming the environment.
Moreover, the oil and natural gas services industry currently is nearing the bottom of its cyclical decline, but is continuing its secular growth patterns.
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While the headlines are filled with talk of solar, wind and ethanol, the oil and gas industry is quietly gambling billions of dollars that natural gas and its controversial liquefied counterpart will replace oil and coal in the energy economy of the future.
The two countries are also pursuing a number of deals for Russia to supply Chinese industry with oil and liquefied natural gas.
"If you're disclosing and the other guy doesn't have to, you're not really on a level playing field, " says Chris Joyner, a spokesman for the American Petroleum Institute (API), an industry group for oil and natural gas companies.
Since drilling wells is the only means of finding oil and natural gas, IDCs essentially amount to what any other industry would be able to deduct as a part of its cost of goods sold, a concept of accounting and tax law as old as the tax code itself.
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Production of crude oil and natural gas is booming on the back of the explosion of the fracking industry.
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The administration also wants to encourage the growth of the nuclear power industry and exploration of new stores of coal, oil and natural gas -- notably in the now off-limits Arctic National Wildlife refuge.
While other investigations have been higher-profile, the recommendations in this report could change how the offshore oil industry operates in the Gulf of Mexico, a prolific oil and natural-gas region.
Aside from a small percentage of electricity which comes from natural gas, and a transportation industry which still leans heavily on foreign oil, Iceland is already well on its way toward meeting that goal.
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One thing is certain: the natural gas industry must be forthcoming and honest about the risks that unconventional oil and gas development create, proactive in taking the steps necessary to minimize those risks, and willing to collect and publicly disclose the data necessary to enable communities to evaluate for themselves whether their health and environment are being fully protected.
And when the backlog in the steel industry occurred last year, Reilley had other deals in the works with oil and natural gas exploration companies that helped pick up the slack.
But with the advent of hydraulic fracturing technologies and the subsequent scramble to tap into prized shale formations like the Bakken pushing domestic oil and natural gas production to record highs, brokers say an increasing number of newly minted millionaires from the energy industry have been plowing money into farmland.
They are the same risks that our industry has been managing for more than 100 years in the conventional development of oil and natural gas.
Energy industry experts predict the EU will import 90 percent of its oil and 80 percent of its natural gas within 20 years as onshore and offshore fields become mature.
Nevermind the thousands of practicing oil and gas geologists, engineers and other professionals in the industry itself who, based on hundreds of billions of dollars in investment in shale oil and natural gas resources by their companies, obviously disagree with these two.
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