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Bloomberg: As Canada’s oil patch grapples with a price shock, pipeline delays and rising tax rates, the federal election could add another barrier to recovery by reining in a key incentive for development of new wells.
Two of the three major parties jostling for power in the Oct. 19 vote are campaigning against “fossil fuel subsidies” and propose tightening the rules for a tax deduction that allows oil-and-gas producers to write off exploration costs against profits entirely in the year they’re incurred.......
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Oil Patch Braces for Exploration Chill After Canada’s Election
Posted by Bloomberg: Josh Wingrove on October 5th, 2015
Posted in Water Conservation