[andyk]

I wonder if he could be more specific. Is he trying to have oil companies pay taxes on gross income instead of net income?

Our illustrious leader wants to prevent oil and gas companies from benefiting from the domestic production tax deduction that oil and gas companies get, along with a plethora of other domestic manufacturers.

[andyk]

Whoops, my last post was directed to you. :)

[TheWriterTX]

Amen, AndyK. I was getting ready to point that out, but see you already have!

[justlurking]

Our illustrious leader wants to prevent oil and gas companies from benefiting from the domestic production tax deduction that oil and gas companies get, along with a plethora of other domestic manufacturers.

I think there are other tax breaks like the depletion allowance, but those are available to all resource extraction industries (mining, in particular).

I'm not aware of any special tax breaks just for the oil industry. Can someone enlighten me, so that I just don't spout out about things I know nothing about -- like the current "Occupy Oval Office" participant?