7 min listen
Independent US oil, gas drillers fight higher taxes, leasing ban
Independent US oil, gas drillers fight higher taxes, leasing ban
ratings:
Length:
17 minutes
Released:
May 24, 2021
Format:
Podcast episode
Description
The White House and Democrats in Congress are looking at a number of ways to increase taxes and federal revenues from the oil and gas industry as part of their climate and clean energy agenda. They're looking at higher royalty rates on federal lands and eliminating deductions like intangible drilling costs and percentage depletion. We spoke with Dan Naatz, executive vice president for the Independent Petroleum Association of America, about how his group is engaging on this issue. We also talked about where he sees the Interior Department's leasing ban headed and the impact of Congress restoring Obama-era methane emissions. S&P Global Platts Analytics predicts the leasing moratorium eventually could lower US onshore production by more than 1 million b/d in the next five years, while risks to offshore production will not show up for at least 10 years. Total US oil production is projected to grow by at least 200,000 b/d in 2021 and by 1 million b/d in 2022, but it won't reach its pre-pandemic peak of nearly 13 million b/d until at least 2023.
Released:
May 24, 2021
Format:
Podcast episode
Titles in the series (100)
Mailbag time: We answer your burning questions about US crude oil: Platts senior editors Herman Wang and Brian Scheid answer US crude policy questions submitted from listeners. Will the first Alaskan crude export in a decade push a change in US export policy? What’s the deal with the Jones Act and who’s pushing for a by Capitol Crude: The US Energy Policy Podcast