Bloomberg:Energy Companies Reap Tax Breaks As They Brace For Virus Impact

But what makes oil and gas companies especially poised to take advantage of this provision is the cyclical nature of the commodity they produce and transport.

“It’s not at all surprising to me that liberalizing the use of operating loss carrybacks would disproportionately affect oil and gas,” said Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy. “I don’t think it has to be an intentional thing. The more cyclical, the more you’re piling up these NOLs, the more useful it’s going to be.” Read more

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