|By Marketwired .||
|July 11, 2014 12:21 PM EDT||
SAN ANTONIO, TX -- (Marketwired) -- 07/11/14 -- InsideMediaPartners.com, a communications and consulting firm in San Diego, California, winner of (7) Edward R Murrow awards including the 2007 National Award for Overall Excellence, partnered in 2013 with OilBoomUSA.com to highlight the opportunities of owning an oil well in the United States.
OilBoomUSA.com, owned and operated by Nakoma Explorations of San Antonio, TX, offers partnerships for accredited investors to capitalize on a 1913 Federal law allowing for unprecedented tax deductions. What makes OilBoomUSA.com unique is that unlike investments in stocks or real estate, where losses are written off against capital gains, the OilBoomUSA deduction is against "ordinary income" such as wages, commissions, and partnership distributions.
Since 1913, the intangible drilling costs (IDC) tax deduction has allowed oil and gas companies to obtain capital for the huge risk of exploring and developing new locations of oil and gas. OilBoomUSA.com has fought to keep this deduction through several presidential budgets where it was targeted for defeat. This deduction is a critical incentive for oil and natural gas companies to continue to explore and develop new sites. For tax purposes, IDCs get special treatment. Usually, these costs must be capitalized and recovered over a period of time as opposed to being expensed in the year they are realized.
Under the 1913 exception, a partner can either expense or capitalize these costs if the gas or oil on property is located in the U.S. Expensing these drilling costs is critical for the exploration and development of new sources of oil and gas.
In addition, an energy research group is reporting that if Congress should reverse a 40-year ban on oil exports it would add more than $1 trillion to government revenues through 2030. The move would also trim fuel prices, and add an average of more than 300,000 jobs a year. The IHS report also said unlocking these exports would cause gasoline prices to fall some 8 cents a gallon because it would push crude onto oil markets and lower global fuel prices.
OilBoomUSA.com also points out that government revenues would rise above $1.3 trillion from 2016 to 2030, and jobs during that period, in both crude production and at oil field service companies, would rise an average of 340,000 a year and peak at an additional 964,000 in 2018.
Nakoma Exploration, LP, the parent company of OilBoomUSA.com, is a growth oriented, independent oil and gas company headquartered in San Antonio, TX. Finding oil and gas requires hard work, painstaking attention to detail, creativity and persistence. To that end, Nakoma depends heavily on the expertise of its industry partners whose success is the backbone of the US Oil Industry. Companies like Slawson Exploration, Unit Petroleum (UNT), Total Fina ELF, Brigham Exploration (BEXP) and Sempra Energy (SRE) work not just with us, but with you, the investor, to find and develop new sites that will not only benefit us economically, but keep America strong and safe for generations.
Inside Media is owned by Chip Franklin Media, a consulting firm specializing in content creation and branding. Inside Media, along with Strategic Global Investments, has created original images and words that appear in almost every form of media; from movies, television, radio and TV, to the speeches of US congressman and the comedy monologues of Saturday Night Live. Their writers and broadcasters have won numerous awards, including more than seven Edward R Murrow awards, 35 AP honors, and special recognition for political convention coverage. They also conduct extensive media training for Fortune 500 CEOs and other legal, medical and real estate professionals.
Chip Franklin Media
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