Ernst & Young Creates Analytical Tool To Examine Effects Of Federal O&G Tax Law Changes

An analytical tool has been crafted by Ernst & Young LLP to help clients quantify the effects of changes to oil and gas tax law that have been proposed by the Obama administration in the draft budget for fiscal year 2010 and in draft legislation, the “Oil Industry Tax Break Repeal Act of 2009,” filed in April 2009 by Sen. Charles Schumer (D-NY).