Insight
Impact of Biden tax plan on upstream oil and gas: from the simple to highly complex
Report summary
Would the Biden tax plans deter oil and gas investment? Will new discoveries be double taxed if a minimum book tax is implemented? What will be the financial impact on existing US assets, and where will assets be impacted the most? In this insight, we explore the impact of the Biden corporate tax increase on US assets, the complexities and implications of taxing book profits, and the resulting competitiveness of the Gulf of Mexico.
Table of contents
- Executive summary
- A trio of tax changes may impact oil and gas
- Corporate tax rate comparison
- Increased corporate tax rate impact on upstream oil and gas
-
Minimum book tax
- Book earnings vs taxable earnings
- Minimum book tax example
- Other effects of a minimum book tax
- Conclusions
Tables and charts
This report includes 5 images and tables including:
- Historical statutory corporate income tax rates (selected countries)
- Current statutory and effective marginal tax rates (selected countries)
- Increased corporate income tax impact on existing US assets
- US terms change standard deepwater full-cycle comparison
- Exploration success book earnings tax example
What's included
This report contains:
Other reports you may be interested in
Insight
Global upstream fiscal tracker: follow the key discussions in the upstream sector
Global upstream fiscal discussions tracker provides the Wood Mackenzie view on the key fiscal discussions as they unfold.
$1,350
Insight
Labour's UK tax plan risks wiping out North Sea investment
What are the risks to future investment, development and the upstream industry as a whole as a result of Labour's proposed tax changes?
$1,350
Asset Report
UK SGB other fields (sub-commercial)
Data on the fields we classify as sub-commercial is available below. Sub-commercial fields contain discovered resources that are ...
$3,100
