The OPEC+ group of oil producers has extended its production cuts totaling 3.66 mln bpd until 2025, maintaining a controlled supply while taking advantage of the current price of the benchmark Brent crude at over $85/barrel. OPEC forecasts that cumulative oil-related investment requirements from now until 2045 will amount to about $14 trln, or around … Read more
Shareholders at three of the world’s largest oil companies recently turned down tax transparency proposals from an activist investor. At Chevron, a proposal to publicly report the company’s earnings and tax bills in every country where it operates was defeated on May 29; 85% of votes were against the proposal. The shareholders followed recommendations from … Read more
Biden administration officials said after evaluating the practice that there are no economic grounds for these transactions, with Deputy Treasury Secretary Wally Adeyemo calling it “really just a shell game.” The officials said the additional IRS funding provided through the 2022 Inflation Reduction Act had enabled increased oversight and greater awareness of the practice. “These tax shelters … Read more
House Republicans hoping to extend the 2017 tax cuts are beginning to systematically examine tax provisions in the Democrats’ landmark climate law. Whether those climate provisions will land on the chopping block remains to be seen. On Wednesday, a Ways and Means Committee “tax team” focused on manufacturing and energy will meet for the first … Read more
GannettJonathan Bandler, Rockland/Westchester Journal NewsJune 5, 2024 at 8:47 PMTwo Eastchester accountants have admitted their roles in a tax fraud scheme that allowed corporate clients to avoid tax liabilty by sending company checks to the accountants and getting cash in return that they never reported.Jack Sardis, 66, of Englewood Cliffs, New Jersey, pleaded guilty Wednesday … Read more
The gardens are looking very summery with tropical trees and flowers starting to bloom. The jacarandas were the last trees to flower, and some trees may surprise with another flowering later in the year. Some favorite trees mentioned include Caesalpinia gilliesii, Leucophyllum frutescens, and Polygala myrtifolia. The text also discusses Tecoma stans, plumeria, and roses. The Plant of the Month is Oenothera speciosa, a ground-hugging plant with fragrant pink blooms loved by bees and butterflies.
Saudi Arabia’s government filed papers to sell a new stake in state oil giant Aramco that could raise as much as .1 billion.
Donald Trump allegedly offered Big Oil executives 0 billion in tax breaks if they donated billion to his campaign. Congressional Democrats are investigating this potential quid pro quo deal. Joe Biden plans to eliminate these tax breaks for the oil and gas industry if elected. The fossil fuel industry is lobbying to maintain these tax breaks, which are set to expire next year. Some attendees at Trump’s fundraising dinner at Mar-a-Lago included executives of smaller oil companies focused on fracking and gas exporting. The event was also attended by individuals with controversial backgrounds in the oil and gas industry.
Shell expects its Australian supplies of liquefied natural gas (LNG) to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade.
A group of cancer victims sued Johnson & Johnson, accusing the company of committing fraud through efforts to use a shell company’s bankruptcy to resolve lawsuits alleging its talc products contained asbestos and caused cancer.