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Title: Deepwater royalty relief product of 3 1/2 year U.S. political effort

Abstract

Against the backdrop of more than 20 years of increasingly stringent environmental regulation, ever-expanding exploration and development moratoria on the Outer Continental Shelf (OCS), and reductions in producer tax incentives, oil and natural gas exploration companies active in deep waters of the Gulf of Mexico recently won a significant legislative victory. On Nov. 28, 1995, President Clinton signed into law S.395, the Alaska Power Administration Sale Act. Title 3 of S.395 embodies the Outer Continental Shelf Deep Water Royalty Relief Act. This landmark legislation provides substantial incentives for oil and natural gas production in the gulf of Mexico by temporarily eliminating royalties on certain deepwater leases. It is the first direct incentive for oil and gas production enacted at the federal level in many years. This paper reviews the elements used to arrive at this successful legislation including the congressional leadership. It describes debates, cabinet level discussions, and use of parlimentary procedures.

Authors:
 [1];  [2]
  1. Stuntz and Davis, Washington, DC (United States)
  2. Senate Energy and Natural Resources Committee, Washington, DC (United States)
Publication Date:
OSTI Identifier:
211887
Resource Type:
Journal Article
Journal Name:
Oil and Gas Journal
Additional Journal Information:
Journal Volume: 94; Journal Issue: 14; Other Information: PBD: 1 Apr 1996
Country of Publication:
United States
Language:
English
Subject:
02 PETROLEUM; 03 NATURAL GAS; PETROLEUM INDUSTRY; FINANCIAL INCENTIVES; LEGISLATION; NATURAL GAS INDUSTRY; ECONOMIC IMPACT; OFFSHORE OPERATIONS; HISTORICAL ASPECTS

Citation Formats

Davis, R E, and Neff, S. Deepwater royalty relief product of 3 1/2 year U.S. political effort. United States: N. p., 1996. Web.
Davis, R E, & Neff, S. Deepwater royalty relief product of 3 1/2 year U.S. political effort. United States.
Davis, R E, and Neff, S. 1996. "Deepwater royalty relief product of 3 1/2 year U.S. political effort". United States.
@article{osti_211887,
title = {Deepwater royalty relief product of 3 1/2 year U.S. political effort},
author = {Davis, R E and Neff, S},
abstractNote = {Against the backdrop of more than 20 years of increasingly stringent environmental regulation, ever-expanding exploration and development moratoria on the Outer Continental Shelf (OCS), and reductions in producer tax incentives, oil and natural gas exploration companies active in deep waters of the Gulf of Mexico recently won a significant legislative victory. On Nov. 28, 1995, President Clinton signed into law S.395, the Alaska Power Administration Sale Act. Title 3 of S.395 embodies the Outer Continental Shelf Deep Water Royalty Relief Act. This landmark legislation provides substantial incentives for oil and natural gas production in the gulf of Mexico by temporarily eliminating royalties on certain deepwater leases. It is the first direct incentive for oil and gas production enacted at the federal level in many years. This paper reviews the elements used to arrive at this successful legislation including the congressional leadership. It describes debates, cabinet level discussions, and use of parlimentary procedures.},
doi = {},
url = {https://www.osti.gov/biblio/211887}, journal = {Oil and Gas Journal},
number = 14,
volume = 94,
place = {United States},
year = {Mon Apr 01 00:00:00 EST 1996},
month = {Mon Apr 01 00:00:00 EST 1996}
}