During the 1960 presidential election Kennedy gave his support for the oil depletion allowance, but that changed in 2 years.
On 16 October 1962, Kennedy passed an act through Congress that removed the distinction between repatriated profits and profits reinvested abroad. This law especially affected the oil companies, oilmen saw their earnings on foreign investment drop from an estimated 30% to 15%.
On 17 January 1963, President Kennedy presented his proposals for tax reform. At this time Kennedy stated that he wanted to remove special privileges and loopholes. He even said he wanted to put an end to the oil depletion allowance that since 1926 gave the oil barons the right to take 27.5% of their earnings tax-free. It is estimated that if the oil depletion allowance had been removed this would have resulted in a loss of around $300 million a year to Texas oilmen.
After JFK had been assassinated, President Lyndon B. Johnson dropped the plans to remove the oil depletion allowance. It took until the arrival of President Jimmy Carter that the oil depletion allowance was removed.
The first investor to take advantage of the discovery of oil in October 1930 in East Texas was Haroldson L. Hunt.
Since 1948, the Suite 8F Group of oilmen including H.L. Hunt were major financial supporters of Lyndon B. Johnson. Large sums of money came from Brown & Root, the “big gas pipeline company”: https://spartacus-educational.com/JFKoildepletion.htm
In April 1962, President Kennedy had already made an enemy of the steel producing industry, when he forced a price rollback by sending FBI agents into corporate offices.
As part of the new plans to make an end to the oil depletion allowance, Robert Kennedy instructed the FBI to ask oil companies for specific production and sales data.
One of FBI Director J. Edgar Hoover's good friends, the Texas oilman Clint Murchison Sr., was among the most aggressive players in the depletion allowance dispute.
Another strong defender of the allowance was Democratic senator Robert Kerr, who owned the Kerr-McGee oil company. When Prescott's son, George H.W. Bush, started up his Zapata Offshore [oil] operation, Kerr offered some of his own executives to help.
Oil executive Jack Crichton, close to Bush, head of a secretive Dallas-based, oil-connected military intelligence unit had Clint Murchison Sr. on his board of directors.
In one of those strange coincidences another director was D. Harold Byrd, owner of the Texas School Book Depository building: https://www.businessinsider.com/what-th ... &r=US&IR=T
(archived here: http://archive.is/gT2b5)
On 11 October 1963, Kennedy signed National Security Action Memorandum 263 to withdraw 1,000 of roughly 16,000 Americans stationed in Vietnam by the end of 1963, with the complete withdrawal by the end of 1965.
They started to withdraw on 14 November 1963, 8 days later JFK was dead: https://www.maryferrell.org/showDoc.htm ... PageId=421
After Johnson was made president, the Gulf of Tonkin incident was staged, to make a massive war effort against Vietnam (more than 500,000 soldiers): https://www.lawfulpath.com/forum/viewto ... 1058#p3746
Kennedy was even trying to make an end to the “Cold war” and, in a September 1963 United Nations speech, even went as far (too far?) to talk about plans to stage the moon landings with the Soviets:
https://www.history.com/news/10-things- ... lo-programIn a field where the United States and the Soviet Union have a special capacity—in the field of space—there is room for new cooperation, for further joint efforts in the regulation and exploration of space.
I include among these possibilities a joint expedition to the moon.