Proposed Treasury Department's tax simplification plan on the oil and gas industry. Hearings before the Committee on Energy and Natural Resources, United States Senate, Ninety-Ninth Congress, First Session, New Orleans, LA, March 15, 1985

Book · Tue Jan 01 04:00:00 EST 1985

OSTI ID:5753301

A field hearing in New Orleans brought testimony from officials and residents of Louisiana and spokesmen for the oil and gas industries on the Treasury Department's tax simplification proposal. Opposition to the proposal centered on the impact of a flat tax on exploration and drilling, which are already depressed. Justification for the proposal is based on a more efficient allocation of human and capital resources for the long term. Opponents charged that the ripple effect of padlocking the oil and gas industry will have serious economic consequences as well as jeopardizing national security. Industry spokesmen outlined the effects on employment, drilling activity, and revenues to demonstrate their concern. Additional material submitted for the record follows the testimony of 15 witnesses.

• OSTI ID: 5753301
• Country of Publication: United States
• Language: English

Related Subjects

03 NATURAL GAS
031000* -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294003 -- Energy Planning & Policy-- Natural Gas
DOCUMENT TYPES
DRILLING
ECONOMIC IMPACT
ECONOMIC POLICY
EMPLOYMENT
EXPLORATION
GOVERNMENT POLICIES
HEARINGS
INDUSTRY
NATURAL GAS INDUSTRY
PETROLEUM INDUSTRY
TAXES
WELL DRILLING