Protecting the Future: The Importance of Depletion Provisions in the Petroleum Industry, 1961-12-06

Item — Box: 7, Folder: 21

Identifier: CAC_CC_31_7_7_21_0002

Staff Only

Senator Robert S. Kerr spoke at a Mid Continent Oil and Gas Association meeting in 1961, emphasizing the importance of maintaining depletion provisions in Federal Tax Laws to support the petroleum industry. He argued that these provisions stimulate investment in oil and mineral production, leading to economic growth and national security. Kerr highlighted the historical context of depletion deductions and the challenges faced by the industry, advocating for the continuation of percentage depletion allowances. He also predicted a significant increase in the consumption of petroleum products in the future.

Dates

1961-12-06

Creator

Kerr, Robert S. (Robert Samuel), 1896-1963 (Person)

Language of Materials

English

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