Wildcatters: tax will curb oil search
Journal Article
·
· Energy User News; (United States)
OSTI ID:6164598
The DOE expects to halt the decline in crude oil production with phased price decontrol, but doesn't anticipate new discoveries from the move because President Carter's windfall tax proposal will have the greatest effect on the independent drillers who are responsible for most new discoveries. Although the two are dealt with in separate legislation, the tax threat will affect response to decontrol measures as drillers wait to find out how much newly discovered oil will be worth. Drilling activity has declined since the tax plan was announced because independent drillers finance exploration from current revenues. If windfall taxes are used to redistribute income for social purposes, the capital for new exploration will not be available.
- OSTI ID:
- 6164598
- Journal Information:
- Energy User News; (United States), Journal Name: Energy User News; (United States) Vol. 4:21; ISSN EUSND
- Country of Publication:
- United States
- Language:
- English
Similar Records
Crude oil severance tax. Hearings before the Subcommittee on Energy and Foundations of the Committee on Finance, United States Senate, Ninety-Sixth Congress, first session May 7, 11, June 11, and 25, 1979
President Carter signs $227 billion excise tax measure
Proposed windfall profits tax on crude oil: some major errors in estimation
Book
·
Sun Dec 31 23:00:00 EST 1978
·
OSTI ID:6609840
President Carter signs $227 billion excise tax measure
Journal Article
·
Sun Apr 06 23:00:00 EST 1980
· Oil Gas J.; (United States)
·
OSTI ID:6451036
Proposed windfall profits tax on crude oil: some major errors in estimation
Journal Article
·
· J. Energy Dev.; (United States)
·
OSTI ID:5525134
Related Subjects
02 PETROLEUM
020200 -- Petroleum-- Reserves
Geology
& Exploration
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
DRILLING
ECONOMIC IMPACT
ENERGY POLICY
ENERGY SOURCES
EXPLORATION
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
PETROLEUM
PRODUCTION
PROFITS
REGULATIONS
WELL DRILLING
020200 -- Petroleum-- Reserves
Geology
& Exploration
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
DRILLING
ECONOMIC IMPACT
ENERGY POLICY
ENERGY SOURCES
EXPLORATION
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
PETROLEUM
PRODUCTION
PROFITS
REGULATIONS
WELL DRILLING