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U.S. Department of Energy
Office of Scientific and Technical Information

H. R. 2393: Enhanced Oil and Gas Recovery Tax Act of 1989. Introduced in the House of Representatives, One Hundred First Congress, First Session, May 17, 1989

Book ·
OSTI ID:5334738
H.R. 2393 would amend the Internal Revenue Code of 1986 to provide incentives for the removal of crude oil and natural gas through enhanced oil recovery techniques so as to add as much as 10 billion barrels to the US reserve base and would also extend the production of certain stripper oil and gas wells. The bill describes the recovery depletion allowance (27.5 percent), the phase-out of oil price increases, the average annual removal price, inflation adjustment, incremental tertiary oil or gas, the enhanced recovery period, transition rules, and special rules for existing projects. Alternative minimum tax provisions and research and development tax credits are also described.
OSTI ID:
5334738
Country of Publication:
United States
Language:
English