Insight
An Upstream Guide to the US House’s version of Build Back Better
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
On November 19th, the United States House of Representatives passed their version of the much-discussed Build Back Better act. The final version of the act is currently being fought over in the Senate and has many provisions specifically impacting energy. This insight acts as a guide and explanation to the currently proposed changes including: A new 15% alternative minimum tax An expansion of the Net Investment Income tax Harsher leasing terms and new operation fees for federal lands A methane emissions fee hitting hard at idle wells The renewal of Superfund charges for all US production
Table of contents
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An Upstream Guide to the US House’s version of Build Back Better
- A bird’s eye view of the act
- The majors may feel the pinch from minimum taxes based on book value
- US investors in small companies could be hit with increased Net Investment Income Tax liability
- New lease terms would tighten on Federal Lands
- All federal leases would be subject to new fees and limits on flaring
- US refineries would see the return of Superfund charges
- Strict methane emissions standards would be put into effect
- The final version of the act is under intense debate
Tables and charts
This report includes the following images and tables:
- Projected increases in spending from Build Back Better
- Projected increases in revenue from Build Back Better
- Simplified example of tax basis calculations
- Proposed new lease terms
- Proposed new fees
What's included
This report contains:
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