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activities additional administration allowance American amount average barrel base base period believe capital cents coal Committee companies Congress consumer continue corporation cost crude oil December deduction demand depletion allowance determined dollars domestic drilling earnings economic effect emergency energy excess profits existing exploration fact Federal figure foreign tax credit fuel going Government higher important imposed incentives income tax increase independent industry interest investment January less limitation loss major means million months natural gas oil and gas oil companies operations paid percent percentage period petroleum present President problem production profits tax proposal question reason reduce refineries refining relating result royalty Secretary shortage sources statement supply taxable taxable income taxpayer term tion United windfall profits
Page 761 - and tables of economists and tax lawyers. At such times, I am somewhat consoled by Oliver Wendell Holmes' statement that: "All life is an experiment. Every year, if not every day, we have to wager our salvation upon some prophecy based upon imperfect knowledge.
Page 195 - person which is used for the purpose of exploring for. developing, removing. or transporting resources from the outer Continental Shelf (within the meaning of section 2 of the Outer Continental Shelf Lands Act. as amended and supplemented (43U.SC sec. 1331) ; < vii > any property which is owned by a domestic corporation (other than a corporation entitled to 'he benefits of section
Page 195 - subparagraph (A) shall not apply to— (i) any aircraft which is registered by the Administrator of the Federal Aviation Agency and which is operated to and from the United States or is operated under contract with the United States
Page 331 - Commerce of the United States My name is Walker Winter. I am a member of the Board of Directors of the Chamber of Commerce of the
Page 25 - direct the President and State and local governments to develop contingency plans which shall have the practical capability for reducing energy consumption by no less than 10 per centum within ten days and by no less than 25 per centum within four weeks of any interruption of normal supply;
Page 195 - United States person which is used in the transportation of property to and from the United States : (vi) any property (other than a vessel or an aircraft) of a United
Page 19 - be placed on an annual basis by multiplying such income by 12 and dividing the result by the number of months in the short period. The
Page 23 - and harvesting, and curtailment of vital public services, including the transportation of food and other essential goods; (c) such shortages and dislocations jeopardize the normal flow of interstate and foreign commerce and constitute a
Page 779 - I subscribe to a statement made by President Nixon in his energy message of April 18, 1973. He said; "We should recognize that the single most effective means of encouraging energy conservation is to insure that energy prices reflect their true costs.
Page 117 - income derived from the retirement or discharge by the taxpayer of any bond, debenture, note, or certificate or other evidence of indebtedness, if the obligation of the taxpayer has been outstanding for more than 6 months, including, in case the issuance was at a premium, the amount