The linchpin of a corporate tax overhaul proposed by House Republicans would mark a massive change for the U.S. oil and gas industry and has companies frantically studying whether to get behind it, fight it or stay on the sidelines. The proposal, a border adjustment tax, would remove companies’ ability to deduct import costs, including on raw materials, as regular business expenses. In turn, exports and other foreign sales wouldn’t...

Source: Wall Street Journal February 23, 2017 10:30 UTC