while writing it without having to sell it is a bit of a gift, it is still just an amortization thing because your land is materially worth less now that the oi

while writing it without having to sell it is a bit of a gift, it is still just an amortization thing because your land is materially worth less now that the oil isn't available to be extracted. If you sold the land you would have a loss equivalent to that change in value to write off against your other profits. It's once again just a timing thing not an actual net change as the loss will be recorded and deducted from taxes payable at some point with or without this legislation and it really should be.