US GAO studies of geothermal energy
Conference
·
· Trans. - Geotherm. Resour. Counc.; (United States)
OSTI ID:6427159
The US General Accounting Office recently issued three studies on geothermal energy. These studies are important for their independent criticisms of Federal Leasing and Loan Guarantee Programs, for their analysis of obstacles impeding the widespread use of geothermal energy, and for the recommendations they make. They are also important for what they do not say, e.g., they fail to study or comment on critical tax and economic issues which the private sector of the geothermal energy industry is faced with and which are major obstacles to accelerated development of domestic geothermal energy resources. This paper urges Congress to extend mineral fuel tax treatment under IRC 617 to geothermal resources, i.e., current deduction of exploration expenses subject to recapture once development begins; to permit the current deduction of reinjection-disposal well costs; and to restore a full 22% depletion allowance.
- OSTI ID:
- 6427159
- Report Number(s):
- CONF-800920-
- Conference Information:
- Journal Name: Trans. - Geotherm. Resour. Counc.; (United States) Journal Volume: 4
- Country of Publication:
- United States
- Language:
- English
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