We just sent out a news release late yesterday on President Obama’s budget. AGA is worried that by changing the tax laws that address intangible drilling costs, geological and geophysical expenses, the depletion allowance and the manufacturing deduction, the budget will discourage independent energy producers from discovering and producing natural gas. Those types of changes would discourage independent energy producers from discovering and producing natural gas, thus shrinking supply and increasing cost.
Dave Parker had some good thoughts on the matter.
“Right now, natural gas utilities are able to deliver clean, domestic natural gas to customers at reasonable prices,” Parker said. “With the economy in the doldrums, now is not the time to increase the price of natural gas to consumers.”
You can read the full release here. Are you worried these changes are going to lead to higher bills? Let us know what you think in the comments.