Word: shalemen
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...flow well in a pipeline unless carried along by water, and the nearest source is the Colorado River 15 miles away. Even more important, Rubel thinks a profitable shale industry can never really roll without the 27½% depletion allowance now given to liquid-crude oilmen. At present, shalemen are classified as mineral miners, get only a 15% tax break on the raw shale. Nevertheless, Rubel foresees a bright Union future in shale. Says he "We have about $15 million in the pot, and that's only the ante. We're betting $15 million that...
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