Oil and gas associations wary of tax reforms Fourteen groups representing various segments of the oil and gas industry recently sent a letter to Senate Finance Committee Chairman Max Baucus (D-Mont.) expressing concern about some of his proposed changes to the tax code, saying they could undermine business investment. In particular, the groups singled out the senator's proposal to extend the period during which businesses can recover operating and labor costs for tax purposes. Such a change would "take cash away from capital-incentive businesses like ours and significantly reduce future domestic investment." "While tax policy can indeed be complicated, it has always been a… Read More