• Energy Tax Facts
  • 5 Jun 21

Washington Examiner: Lee Fuller and Ryan Ullman of IPAA Discuss President Biden’s Budget and Repeal of Industry Tax Provisions

“What is absolutely without a doubt is that passing this budget, regardless of company size or structure, is going to fundamentally disadvantage America’s standing in the global energy space,” said Ryan Ullman, vice president of government relations and political affairs at the Independent Petroleum Association of America. “We are going to produce less oil and gas.”

Lee Fuller, IPAA’s officer of environment and general strategy, added that while larger integrated oil companies have several revenue streams, including refineries and chemicals, smaller producers don’t and thus rely more heavily on the tax breaks that help them recoup their expenses more quickly.

“Independent producers’ revenue comes from the wellhead. You sell your oil and gas. That’s where you get your money,” Fuller said.