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Texas Supreme Court Rules Oil and Gas Producer Not Entitled to Sales Tax “Manufacturing Exemption”

The Energy Law

On June 17, 2016, the Texas Supreme Court ruled that an oil and gas producer (“Southwest”) was not entitled to a statutory exemption from sales taxes on its purchases of casing, tubing and pumps used in the production of oil and gas (the “Equipment”). At issue in Southwest Royalties, Inc.

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EPA Proposes Significant Changes to the RMP Rule

The Energy Law

1] An activity involving RMP-regulated substances is eligible for Program 1 requirements if it has not had an accidental release with offsite impacts in the last five years and would not affect the public in the case of a worst-case release. 2] A feasibility analysis would be required for any IST or ISD considered. [3]

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WILL TRUMP TIGHTEN THE SCREWS ON CAPITAL?

Oil and Gas Investments

The losses are two-fold.American workers are losing good-paying manufacturing jobs.And money outflows are draining the national wealth. So far , his ire has focused on manufacturing jobs and the trade deficit.Yet, he could have another card up his sleeve that no one is talking about yet. This would likely be negative for the USD.

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