U.S. Tax Reform a Mixed Bag for Oil and Gas Companies
The new tax plans impact on energy companies is complicated, and oil and gas companies may see a rise in competition.
In an article from The Greeley Tribune, author Nikki Work writes, “Though producers make their decisions primarily based on the quality and price of the product, Maniloff said it’s possible they will shift production from future years to 2018 and 2019 to take advantage of low tax rates and faster deductions of capital investments”.
In the article, Work discusses:
- The industry responds
- What about renewables?
- Drilling in the arctic
- Other impacts
Work continues, “Both Shell and BP expect to see an impact of several billion dollars for their fourth-quarter income, but in the long run, think the tax bill will be more of a help than a hindrance, according to the article”. What is the next move for oil and gas companies? Are energy companies ready for the future?
To read more, see the full article from Nikki Work in The Greeley Tribune.