Osyka Corp. may only have 10 employees, but its leader is fighting against federal regulations that could put it out of business. Michael Harness is no stranger to adversity. After successful stints at Amoco and Texas Eastern, he found himself in Houston without a job. So he did what any unemployed engineer would do - he started his own company. Fast-forward 20 years, and Harness now is the chairman, president, and CEO of Osyka Corp., a Houston-based independent oil and gas company with assets in Texas and Mississippi. Osyka has no unconventional or offshore assets; rather, it specializes in relatively low-risk, low-margin fields. And the sabre rattling in Washington has Harness worried. Even before the disastrous oil spill in the Gulf of Mexico (GoM), the Obama administration was planning to repeal the expensing of intangible drilling costs, which Harness said will certainly have an impact on small independents. Since the spill, it has only gotten worse.
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