If you accept that there is an agenda behind every piece of journalism (except mine, obviously), it changes the mindset while reading. So, when Bloomberg releases a piece called “Stealth Bailout Shovels Millions to Oil Companies”, one should start by recalling the former Presidential Candidate’s views on fossil fuels.

In the article, it says that Oxy, a favorite whipping boy of the press because Carl Icahn has a vested interest in seeing management beat up to advance his position, is receiving $195 mm. Oh, the shame! The horror!!

But what is buried, almost as an unrelated “oh and by the way”, is the commentary that the tax refund is the result of a non industry specific allowance by congress to apply operating losses to previous years gains and get a tax refund. So you have to have paid taxes AND have had a NOL in a separate tax year. It is, after all, boring to write about tax law but much more fun to have outlandish headlines and hope no one reads the article.

Be critical in your reading, be thoughtful in your analysis, and seek the data behind the article to see if you could write it with the opposite spin. “Tax loss carryback allows companies breathing room as Government shuts down country.” Said one accountant: “I wish the tax code was longer.  Best job security I could ask for.”