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H. R. 706: This Act may be cited as the National Energy Strategy Act of 1991, introduced in the House of Representatives, One Hundred Second Congress, First Session, January 29, 1991

Book ·
OSTI ID:5115101
This bill would amend the Internal Revenue Code of 1986 to impose a fee on imported petroleum products and derivatives and provide incentives for oil and natural gas exploration. Sections of the bill describe the following: national energy policy; fee on imported crude oil, refined petroleum products, and petrochemical feedstocks or petrochemical derivatives; geological, geophysical, and surface casing costs treated like intangible drilling and development costs; net income limitation on percentage depletion not to apply to oil and gas wells; increase in percentage depletion based on removal price; repeal to recapture provisions dealing with dispositions of oil, gas, or geothermal property interests; crude oil production credit for maintaining economically marginal wells; crude oil and natural gas exploration and development credit; removal of intangible drilling costs from the alternative minimum tax and corporate preference reductions; repeal of taxable income limitation for percentage depletion; election to carry forward depletion deduction in excess of basis; and investment tax credit for vehicles fueled by clean-burning fuels, for property converting vehicles to be so fueled, and for facilities for the retail delivery of such fuels.
OSTI ID:
5115101
Country of Publication:
United States
Language:
English

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Related Subjects

02 PETROLEUM
021000* -- Petroleum-- Legislation & Regulations
03 NATURAL GAS
031000 -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002 -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
AMENDMENTS
CHARGES
COST
DRILLING
ENERGY POLICY
ENERGY SOURCES
EXPLORATION
FINANCIAL INCENTIVES
FOSSIL FUELS
FUEL SUBSTITUTION
FUELS
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
IMPORTS
LAWS
LEGISLATIVE TEXT
MINERAL RESOURCES
NATIONAL ENERGY PLAN
NATURAL GAS DEPOSITS
NATURAL GAS WELLS
OIL WELLS
PETROCHEMICALS
PETROLEUM
PETROLEUM DEPOSITS
PETROLEUM PRODUCTS
PRICES
RESOURCE DEPLETION
RESOURCE DEVELOPMENT
RESOURCES
TAX CREDITS
TAX LAWS
TAXES
VEHICLES
WELL DRILLING
WELL LOGGING
WELLHEAD PRICES
WELLS