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\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nAccording to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nFrom 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWhat is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nAccording to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\n\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nHow would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWhat fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nAccording to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWarren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nFossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nHow would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nTwo energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWith a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nOne unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWhat are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nDue to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nMinisters have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nHow is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nthe group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\n\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nMinisters have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWhy did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe modification opens the door for a group, including an investment entity supported by the United Arab Emirates, to purchase the Telegraph.<\/p>\n\n\n\n
Why did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nThe Guardian claims that UK lawmakers are refusing to name the media organizations who pushed for laws restricting foreign state ownership of British publications. The UK government said last month that it would increase the proportion of British newspapers that might be owned by a foreign state to 15%, a threefold increase.<\/p>\n\n\n\n
The modification opens the door for a group, including an investment entity supported by the United Arab Emirates, to purchase the Telegraph.<\/p>\n\n\n\n
Why did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nAdvocates are encouraging the UK government to put strict restraints on access to decision-makers for the fossil fuel sector in the same way they have for the tobacco sector. Proposals include a ban on fossil fuel donations to politicians, limits to meetings with fossil fuel lobbyists, and stricter rules around the \"revolving door\" between governmental positions and fossil fuel corporations. More education is exposed to lobbying restrictions, lobbying transparency laws are expanded to cover all lobbyists, including corporate in-house and non-profit, and stricter penalties for contravention should be added.<\/p>\n","post_title":"Fossil fuel lobby exploits weak UK laws to block real climate action","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"fossil-fuel-lobby-exploits-weak-uk-laws-to-block-real-climate-action","to_ping":"","pinged":"","post_modified":"2025-06-30 20:14:42","post_modified_gmt":"2025-06-30 20:14:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8128","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8135,"post_author":"7","post_date":"2025-06-26 20:24:20","post_date_gmt":"2025-06-26 20:24:20","post_content":"\n
The Guardian claims that UK lawmakers are refusing to name the media organizations who pushed for laws restricting foreign state ownership of British publications. The UK government said last month that it would increase the proportion of British newspapers that might be owned by a foreign state to 15%, a threefold increase.<\/p>\n\n\n\n
The modification opens the door for a group, including an investment entity supported by the United Arab Emirates, to purchase the Telegraph.<\/p>\n\n\n\n
Why did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWhat reforms could improve UK lobbying transparency?<\/h2>\n\n\n\n
Advocates are encouraging the UK government to put strict restraints on access to decision-makers for the fossil fuel sector in the same way they have for the tobacco sector. Proposals include a ban on fossil fuel donations to politicians, limits to meetings with fossil fuel lobbyists, and stricter rules around the \"revolving door\" between governmental positions and fossil fuel corporations. More education is exposed to lobbying restrictions, lobbying transparency laws are expanded to cover all lobbyists, including corporate in-house and non-profit, and stricter penalties for contravention should be added.<\/p>\n","post_title":"Fossil fuel lobby exploits weak UK laws to block real climate action","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"fossil-fuel-lobby-exploits-weak-uk-laws-to-block-real-climate-action","to_ping":"","pinged":"","post_modified":"2025-06-30 20:14:42","post_modified_gmt":"2025-06-30 20:14:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8128","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8135,"post_author":"7","post_date":"2025-06-26 20:24:20","post_date_gmt":"2025-06-26 20:24:20","post_content":"\n
The Guardian claims that UK lawmakers are refusing to name the media organizations who pushed for laws restricting foreign state ownership of British publications. The UK government said last month that it would increase the proportion of British newspapers that might be owned by a foreign state to 15%, a threefold increase.<\/p>\n\n\n\n
The modification opens the door for a group, including an investment entity supported by the United Arab Emirates, to purchase the Telegraph.<\/p>\n\n\n\n
Why did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\n
UK lobbying laws are limited. Only private sector consultancy lobbyists must register, while in-house lobbyists for corporations (including fossil fuel companies) are exempt, creating large<\/a> loopholes. This means much lobbying activity<\/a> remains unregulated and opaque.<\/p>\n\n\n\nWhat reforms could improve UK lobbying transparency?<\/h2>\n\n\n\n
Advocates are encouraging the UK government to put strict restraints on access to decision-makers for the fossil fuel sector in the same way they have for the tobacco sector. Proposals include a ban on fossil fuel donations to politicians, limits to meetings with fossil fuel lobbyists, and stricter rules around the \"revolving door\" between governmental positions and fossil fuel corporations. More education is exposed to lobbying restrictions, lobbying transparency laws are expanded to cover all lobbyists, including corporate in-house and non-profit, and stricter penalties for contravention should be added.<\/p>\n","post_title":"Fossil fuel lobby exploits weak UK laws to block real climate action","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"fossil-fuel-lobby-exploits-weak-uk-laws-to-block-real-climate-action","to_ping":"","pinged":"","post_modified":"2025-06-30 20:14:42","post_modified_gmt":"2025-06-30 20:14:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8128","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8135,"post_author":"7","post_date":"2025-06-26 20:24:20","post_date_gmt":"2025-06-26 20:24:20","post_content":"\n
The Guardian claims that UK lawmakers are refusing to name the media organizations who pushed for laws restricting foreign state ownership of British publications. The UK government said last month that it would increase the proportion of British newspapers that might be owned by a foreign state to 15%, a threefold increase.<\/p>\n\n\n\n
The modification opens the door for a group, including an investment entity supported by the United Arab Emirates, to purchase the Telegraph.<\/p>\n\n\n\n
Why did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nWhat loopholes exist in UK lobbying regulations?<\/h2>\n\n\n\n
UK lobbying laws are limited. Only private sector consultancy lobbyists must register, while in-house lobbyists for corporations (including fossil fuel companies) are exempt, creating large<\/a> loopholes. This means much lobbying activity<\/a> remains unregulated and opaque.<\/p>\n\n\n\nWhat reforms could improve UK lobbying transparency?<\/h2>\n\n\n\n
Advocates are encouraging the UK government to put strict restraints on access to decision-makers for the fossil fuel sector in the same way they have for the tobacco sector. Proposals include a ban on fossil fuel donations to politicians, limits to meetings with fossil fuel lobbyists, and stricter rules around the \"revolving door\" between governmental positions and fossil fuel corporations. More education is exposed to lobbying restrictions, lobbying transparency laws are expanded to cover all lobbyists, including corporate in-house and non-profit, and stricter penalties for contravention should be added.<\/p>\n","post_title":"Fossil fuel lobby exploits weak UK laws to block real climate action","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"fossil-fuel-lobby-exploits-weak-uk-laws-to-block-real-climate-action","to_ping":"","pinged":"","post_modified":"2025-06-30 20:14:42","post_modified_gmt":"2025-06-30 20:14:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8128","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8135,"post_author":"7","post_date":"2025-06-26 20:24:20","post_date_gmt":"2025-06-26 20:24:20","post_content":"\n
The Guardian claims that UK lawmakers are refusing to name the media organizations who pushed for laws restricting foreign state ownership of British publications. The UK government said last month that it would increase the proportion of British newspapers that might be owned by a foreign state to 15%, a threefold increase.<\/p>\n\n\n\n
The modification opens the door for a group, including an investment entity supported by the United Arab Emirates, to purchase the Telegraph.<\/p>\n\n\n\n
Why did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n
Fossil fuel interests<\/a> have made winning the tax change a top goal this year. According to federal records, the modification was actively campaigned for by the oil giant ConocoPhillips and the Denver-based petroleum business Ovintiv.<\/p>\n\n\n\n
Warren, Senator Sheldon Whitehouse of Rhode Island, Senator Ron Wyden of Oregon, and Senate Minority Leader Chuck Schumer wrote to ConocoPhillips and Ovintiv on Thursday morning, demanding <\/a>explanations regarding their involvement in the CAMT alteration.<\/p>\n\n\n\n
According to the letters, which are sent to Brendan McCracken, CEO of Ovintiv, and Ryan Lance, CEO of ConocoPhillips, both businesses might \"benefit tremendously from this provision.\"<\/p>\n\n\n\n
What fossil fuel tax loophole is being proposed?<\/h2>\n\n\n\n
The senators requested responses by July 9th on how much each company has spent and plans to spend this year on lobbying for the provision, how much each has contributed to elected officials who support tax cuts on fossil fuels, and how much tax reduction each company would experience if the provision is finalised.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h3>\n\n\n\n
The signatories added, <\/p>\n\n\n\n
\n\"The justification for CAMT was straightforward: for far too long, large corporations had exploited tax code loopholes to evade paying their fair share, sometimes paying zero federal taxes despite making billions in profits.\"<\/p>\n<\/blockquote>\n\n\n\n
According to the letter, the proposed modification is quite similar to a plan that Oklahoma Senator James Lankford submitted this year that would allow businesses to deduct \"intangible drilling and development costs\" from their CAMT revenue calculations.<\/p>\n\n\n\n
What is the role of Senator Lankford in this?<\/h3>\n\n\n\n
From 2019 to 2024, Lankford's primary industrial fundraising source was the fossil fuel business, which donated close to $500,000 to him. According to one analysis on the Lankford plan, deductions for intangible drilling costs\u2014which relate to expenses incurred prior to drilling, such as personnel and equipment\u2014have been in place since 1913, making them the oldest and largest fossil fuel subsidy in the United States.<\/p>\n\n\n\n
According to the letters, <\/p>\n\n\n\n
\n\"Big Oil now wants this deduction to apply not only for their taxable income but also for book income purposes.\" <\/p>\n<\/blockquote>\n\n\n\n
In other words, if passed, this clause would lower or possibly completely remove oil and gas corporations' tax obligations under CAMT, enabling them to pay no federal income taxes at all.<\/p>\n","post_title":"Democratic senator challenges oil firms on tax break lobbying in Senate bill","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"democratic-senator-challenges-oil-firms-on-tax-break-lobbying-in-senate-bill","to_ping":"","pinged":"","post_modified":"2025-06-29 12:12:22","post_modified_gmt":"2025-06-29 12:12:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8112","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":39},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_3"};
\nIt is unambiguous that there is a direct correlation between fossil-fuel donations and pro-fossil-fuel policies being pursued by governments and policymakers. For example, the North Sea transition deal during 2021 proceeded after at least \u00a3420,000 in donations from oil and gas interests was secured. While this deal included no new licensing rounds, they continued to extract fossil fuels, despite international calls to cease all new fossil fuel development.<\/p>\n\n\n\n
What loopholes exist in UK lobbying regulations?<\/h2>\n\n\n\n
UK lobbying laws are limited. Only private sector consultancy lobbyists must register, while in-house lobbyists for corporations (including fossil fuel companies) are exempt, creating large<\/a> loopholes. This means much lobbying activity<\/a> remains unregulated and opaque.<\/p>\n\n\n\nWhat reforms could improve UK lobbying transparency?<\/h2>\n\n\n\n
Advocates are encouraging the UK government to put strict restraints on access to decision-makers for the fossil fuel sector in the same way they have for the tobacco sector. Proposals include a ban on fossil fuel donations to politicians, limits to meetings with fossil fuel lobbyists, and stricter rules around the \"revolving door\" between governmental positions and fossil fuel corporations. More education is exposed to lobbying restrictions, lobbying transparency laws are expanded to cover all lobbyists, including corporate in-house and non-profit, and stricter penalties for contravention should be added.<\/p>\n","post_title":"Fossil fuel lobby exploits weak UK laws to block real climate action","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"fossil-fuel-lobby-exploits-weak-uk-laws-to-block-real-climate-action","to_ping":"","pinged":"","post_modified":"2025-06-30 20:14:42","post_modified_gmt":"2025-06-30 20:14:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8128","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8135,"post_author":"7","post_date":"2025-06-26 20:24:20","post_date_gmt":"2025-06-26 20:24:20","post_content":"\n
The Guardian claims that UK lawmakers are refusing to name the media organizations who pushed for laws restricting foreign state ownership of British publications. The UK government said last month that it would increase the proportion of British newspapers that might be owned by a foreign state to 15%, a threefold increase.<\/p>\n\n\n\n
The modification opens the door for a group, including an investment entity supported by the United Arab Emirates, to purchase the Telegraph.<\/p>\n\n\n\n
Why did ministers keep consultation responses confidential?<\/h2>\n\n\n\n
Ministers have, however, taken the unprecedented step of requiring the identities of four media outlets that participated in a consultation on the matter to remain confidential. According to a cross-sectoral panel of peers examining the proposed legislative change, they were instructed not to identify the participating corporations.<\/p>\n\n\n\n
\n\"We were asked by the department not to reveal the identity of the organizations which responded,\" <\/p>\n<\/blockquote>\n\n\n\n
the group, which includes Labour peers, stated. \u201cThe department's choice to maintain the confidentiality of information pertaining to public consultation participants worries us. This is an unusual approach, particularly considering that the public consultation document said that \"a list of the organizations that responded\" will be included on the department's website along with a summary of the main comments highlighted.\u201d<\/p>\n\n\n\n
How is DMGT involved in Gulf state lobbying?<\/h2>\n\n\n\n
Ministers have also apparently heard from Lord Rothermere's Daily Mail and General Trust (DMGT) group, which owns the Daily Mail, Mail on Sunday, and the i Paper. What stance any corporation took is unknown. Weeks before the legal change was revealed, a team from the UAE met with Downing Street officials.<\/p>\n\n\n\n
Due to its ties to the Gulf, DMGT has concentrated its events business there. Among the prominent media personalities that met with US President Donald Trump<\/a> and Qatari Emir Tamim bin Hamad Al Thani in Doha last month was Lord Rothermere.<\/p>\n\n\n\n
What are the national security concerns with foreign ownership?<\/h2>\n\n\n\n
The legal reform, which will be put to a vote in the House of Commons, is perceived as a component of Keir Starmer's efforts to attract foreign investment in an effort to boost the UK economy. However, any relaxation of the state ownership statute raises concerns in parliament.<\/p>\n\n\n\n
One unnamed corporation lobbied for the threshold for foreign state ownership to be raised to 25% of a newspaper, according to the government's assessment of the reasons made to it over the proposed legislation change. It cited national security legislation that permits<\/a> foreign governments to acquire a quarter of critical infrastructure, including nuclear power facilities.<\/p>\n\n\n\n
The growing influence of money supported by Gulf nations in the media is evidenced by the demand to loosen the regulations governing state ownership. Saudi Arabia already has broadcast sports rights through the streamer Dazn, and the United Arab Emirates is vying for a piece of the Telegraph.<\/p>\n\n\n\n
With a minority holding owned by IMI, a UAE-controlled company, the legislation change essentially opens the door for the US fund RedBird Capital to purchase the Telegraph. As a member of RedBird's consortium, Lord Rothermere is currently negotiating his minority investment in the Telegraph Media Group. The takeover hasn't happened yet, though.<\/p>\n","post_title":"UK ministers decline to disclose firms lobbying on foreign newspaper ownership rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uk-ministers-decline-to-disclose-firms-lobbying-on-foreign-newspaper-ownership-rules","to_ping":"","pinged":"","post_modified":"2025-06-30 20:29:27","post_modified_gmt":"2025-06-30 20:29:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/dctransparency.com\/?p=8135","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8112,"post_author":"7","post_date":"2025-06-26 11:50:54","post_date_gmt":"2025-06-26 11:50:54","post_content":"\n
Two energy corporations are being questioned by Democratic senators, led by Senator Elizabeth Warren of Massachusetts, about their attempts to \"win a $1.1 billion tax loophole\" in Donald Trump's alleged \"big, beautiful bill.\"<\/p>\n\n\n\n
The proposed exception would shield fossil fuel firms from paying a tax imposed by Biden in 2022. Senate Republicans included the provision in their version of the reconciliation mega-bill last month.<\/p>\n\n\n\n
How would CAMT changes benefit big oil companies?<\/h2>\n\n\n\n
The corporate alternative minimum tax (CAMT), which is enshrined in the Inflation Reduction Act, mandates that companies with adjusted earnings above $1 billion pay taxes equal to at least 15% of the profits they disclose to their shareholders, also referred to as \"book profits.\" By enabling businesses to deduct certain drilling expenses from their revenue, the Senate Finance Committee's proposal would protect domestic drillers from that tax and enable some businesses to pay no federal taxes at all.<\/p>\n\n\n\n