Natural Gas Gets Legislative Boost
The NYT is reporting on a group of nine senators urging Senator Boxer to include in her climate legislation proposal a suite of measures that would boost natural gas production and use. In addition to promoting use for electric power and transportation, these lawmakers advocate maintaining current tax treatment for the industry, including the percentage depletion credit and deductions for intangible drilling costs.
[Update: For a related article on the industry's lobbying efforts, see this article in the NYT. Makes you wonder whether the authors are reading the paper as a whole, though.]
