Bradley and oil taxes

Former Sen. Bill Bradley has tossed tax treatment of oil and gas production onto the glowing coals of presidential politics. Once again, the producing industry must prepare to defend tax provisions peculiar to its activities against charges of preferential treatment.Bradley, seeking to become the Democratic candidate for the presidency, added oil and gas tax provisions to a hit-list he spelled out during a Jan. 4 forum in Bedford, NH.The targetsOne of the former New Jersey lawmaker's targets is what he described as "the provision that allows certain oil and gas producers, as well as hardrock miners, to claim an up-front tax deduction for exploration and development costs." He put this...

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