OIL AND GAS INVESTOR: Smith Receives Congressman Of Year Award From Texas Alliance Of Energy Producers
MONDAY, OCTOBER 12, 2015 - 11:35AM
Rep. Lamar Smith, R.-Texas, chairman of the Committee On Science, Space & Technology in the House of Representatives, received the Congressman of the Year award from the Texas Alliance of Energy Producers (Alliance), the oil and natural gas trade association said Oct. 12.
“Chairman Smith has been a tireless worker for sound energy policy as chairman of one of the most prestigious committees in the House of Representatives,” Alex Mills, president of Alliance, said. “He has been a champion for the domestic oil and gas industry from top to bottom, but especially for the small independent oil and gas producer.”
Mills said that earlier in 2015 there was discussion in the House about changes to the tax code. President Obama proposed eliminating key tax provisions for small independent producers. Mills said that independents drill 96% of the state’s wells.
Smith and Rep. Henry Cuellar, D-Texas, wrote a letter to retain percentage depletion and expensing of intangible drilling costs in the tax code. Smith also has authored legislation requiring federal regulatory agencies to show the science they are using as they propose new restrictions on industry.