Bloomberg Businessweek: "Chesapeake's 1% Tax Rate Shows Cost of Drilling Subsidy" 7/2/2012
"...Chesapeake paid $53 million over its 23-year history, or about 1 percent of the cumulative pretax profits during that period, data compiled by Bloomberg show. That's less than half of Chief Executive Officer Aubrey McClendon's compensation, for example, in 2008 alone..."
http://www.businessweek.com/news/2012-07-02/cheaspeake-s-1-percent-... ~ written by Zachary Mider, Bradley Olson, Jesse Drucker, and Todd White ~ July 2, 2012
WOW!
"Defer Taxes Forever..."
And they're $20 Billion in debt????
IMO, These O&G Producers (probably many other O&G Producers besides CHK) double dip revenues to avoid the Tax Man...
Forever...
My "next" life I wish to be a U.S. O&G Producer... LOL
DrWAVeSport Cd1 7/2/2012
Tags: chesapeake, drilling, rate, subsidy, tax
Views: 439
Replies to This Discussion
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Oil & Gas ProPermalink Reply by Terry L. Antee on -
Good point Checkmateking, the government allows these tax incentives and then when they want to take them away they act as if the one getting the incentives are crooks.
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Permalink Reply by DrWAVeSport Cd1 on
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Looks like the "government" would applaud CHK then, instead of investigating them @ SEC, IRS, DOJ... LOL
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