“You Feel Like You’re Being Cheated”: Oil Companies Unfairly Take Millions, North Dakota Mineral Owners Say
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Oil companies are holding back a large portion of revenue payments to the people they lease drilling rights from, often with little explanation. But the industry has an outsize influence in the state, and public officials have refused to take action.
https://www.propublica.org/article/north-dakota-mineral-owner-royalty-deductions?amp%3Butm_medium=social&%3Butm_campaign=mastodon-post
#News #NorthDakota #Oil #Gas #Law #Energy #USPolitics
2 Comments
fencepost@infosec.exchange · 1 pts · 1y
@ProPublica@newsie.social hm. Do they get to deduct those deductions as a production cost from their taxes? Seems like they'd qualify as a business expense. Similarly do they also get to deduct them from North Dakota state taxes?
Huntn00@mastodon.world · 1 pts · 1y
@ProPublica@newsie.social Business model: cheat, lie.steel. There’s a minimum 70 year track record there. No surprise whatsoever ever.