Oil control and tax incentives. Hearing before the Subcommittee on Energy Development and Applications of the Committee on Science and Technology, US House of Representatives, Ninety-Seventh Congress, First Session, July 15, 1981

Book · Thu Jan 01 04:00:00 EST 1981

OSTI ID:6013645

Two panels of witnesses from private industry gave a variety of opinions on how industry has responded to oil deregulation and the level of investment tax incentives for research and development. Witnesses challenged the justification for reducing federal support of research and development on the basis of anticipated revenues from decontrol because higher energy prices tend to divert capital to other areas. Financial incentives to help private industry recover capital rapidly from plant and equipment investments are essential for research programs to go forward. The Electric Power Research Institute spokesman presented examples of cooperative and complementary EPRI-federal programs, and noted that substantial changes in one would seriously affect the efforts and results of the other. Westinghouse and other companies denied that either the internal benefits of efficiency due to higher energy prices or tax incentives would cause private industry to make up for reduced government funding for research. (DCK)

• OSTI ID: 6013645
• Country of Publication: United States
• Language: English

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