Show Tax Tn Questions While these concerns must be rated as future possibilities they do not yet fall into the category of probabilities It is of course difficult to determine what changes will occur in our current tax laws Though President Nixon has reportedly rejected any sweeping revision revision revis revise ion of taxes on profits earned abroad by byU byU U U. U S. S companies his IUs influence with Congress has doubtless been weakened by the Watergate scandal So a change in this tax law must be bo considered a possibility As for the investment investment in in- vestment tax credit there has been recent re recent recent re- re cent speculation that a variable rate may be adopted Because of the energy crisis however the offshore industry may get special consideration As for overcapacity the Research Department of Babson's Reports feels that any excess in equipment capacity J that might later occur will be of limited t A duration particularly in view of the Interior In In- tenor Departments Department's intention to triple the amount of oil leasing in 1974 1974 w In summary we feel that although the industry will do well for 1973 as asa asa asa a whole there are some I possible clouds on the horizon In view of this this' fact and andI I the present uncertain market atmosphere atmosphere atmos phere we are recommending only the Offshore Company common stock as as a abuy a buy |