Fear Is Rising in Oil Industry that Tax Breaks Would Be Axed in Reform Bill

Oil and natural gas lobbyists have spent more than a year urging lawmakers to maintain targeted tax breaks for extracting and transporting their products, but there are signs of a growing fear within the industry that impending legislation to overhaul the tax code for the first time in a generation would eliminate most of those incentives in order to lower the top-line rate paid by all companies.

Fear Is Rising in Oil Industry that Tax Breaks Would Be Axed in Reform Bill