Impact of Biden tax plan on upstream oil and gas: from the simple to highly complex
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.