Insight
An Upstream Guide to the US House’s version of Build Back Better
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 5 images and tables including:
- 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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