Tag: API

  • Energy Tax Facts
  • 10 Sep 21

Natural Gas Intelligence: U.S. Oil, Natural Gas Trade Groups Warn Proposed Methane Tax Could Backfire

Nearly 130 business and labor groups led by the American Petroleum Institute (API) are urging Congress to oppose a proposed tax on oil and gas methane emissions and instead push for direct federal regulation. Senate Democrats are considering the Methane Emissions Reduction Act of 2021 for inclusion in their $3.5 trillion budget reconciliation bill.  Introduced by Democratic […]

  • Energy Tax Facts
  • 8 Sep 21

Energy, Manufacturing, Labor And Business Groups Urge Senate To Oppose Punitive Natural Gas Tax

The American Petroleum Institute (API) and 130 energy, manufacturing, business and labor trade organizations across the natural gas and oil supply chain sent a letter to the U.S. Senate Committee on Environment and Public Works opposing legislation that would place a fee on methane. The organizations, led by API, explain that the proposal is a “pay-for” that […]

  • Energy Tax Facts
  • 8 Sep 21

Hydrocarbon Engineering: API leads organisations in opposing Methane Emissions Reduction Act

The American Petroleum Institute (API) and 130 energy, manufacturing, business and labour trade organisations across the natural gas and oil supply chain recently sent a letter to the US Senate Committee on Environment and Public Works opposing legislation that would place a fee on methane. The organisations, led by API, explain that the proposal is […]

  • Energy Tax Facts
  • 21 Nov 13

Baucus launches limited attack on oil industry tax breaks

Senate Finance Committee Chairman Max Baucus (D-Mont.) unveiled plans to pare back oil industry tax breaks Thursday as part of a wider proposed overhaul of the corporate tax code. The plan does not attack as many industry tax breaks as some liberal Democrats and the White House have proposed. But it nonetheless drew a quick criticism from the oil […]

  • Energy Tax Facts
  • 31 Oct 13

Oil & Gas Journal: Voters oppose new energy taxes, API plans to tell federal lawmakers

American Petroleum Institute lobbyists plan to remind members of the 113th Congress considering possible federal budget reforms in 2013’s final weeks that their constituents don’t support new energy taxes, said Stephen Comstock, API tax and accounting policy director. They specifically plan to cite findings of a recent Harris Interactive telephone survey API commissioned of 1,001 […]

  • Energy Tax Facts
  • 30 Oct 13

Houston Chronicle: Majority of Americans Oppose Taxes that Will Reduce Energy Production

Most registered voters believe raising taxes on oil companies would hike costs for consumers and oppose boosting energy taxes now, according to a poll unveiled Tuesday. Oil industry leaders and lobbyists say the new polling data, from a Harris Interactive survey commissioned by the American Petroleum Institute, helps them make the case that lawmakers should […]

  • Energy Tax Facts
  • 22 Jul 13

Oil and Gas Journal: Study details impacts of repealing IDC deduction

Repealing the federal tax provision allowing oil and gas producers to deduct certain intangible drilling costs (IDCs) effective Jan. 1, 2014, would cost 190,000 US jobs in the first year and would cut drilling investments in the US by $407 billion over 10 years, a new study commissioned by the American Petroleum Institute found. “The […]

  • Energy Tax Facts
  • 12 Jul 13

Study: Repealing IDC Deduction Would Destroy U.S. Jobs

Today, the American Petroleum Institute (API) released a study, conducted by Wood Mackenzie, that found repealing the Intangible Drilling Costs (IDCs) tax deduction would have a profoundly negative impact on American energy production, including the men and women whose jobs depend on it. According to the study, repeal of the IDC deduction would cost 190,000 American […]