we bring in jack girard, president and ceo of the american petroleum institute. , like a ton of numbers, i know you found in your study on this, some of the big ones that jumped out at us, 15 to 20% drop in future drilling. >> that's right. tracy: 109,000 fewers job in the first year that would have an effect. those are big numbers and they're really important. let's first talk about who equals. this is a deduction. who qualifies for this deduction? is it any oil drilling company? >> it is not all of them. but generally those who are in the business of drilling wells. it is called intangible drilling cost or idc. really as you mentioned earlier, tracy what it covers our cost of wages. the typical things we do to drill for and produce oil and natural gas. the reason it is so important, today that is a deduction. so they're able to deduct the costs associated with drilling each well. what some have proposed, instead of allowing us to deduct the cost, they would spread that over the life of the well. which means, instead of getting the money back that we have spent o