U.S. energy conservation and efficiency policies: Challenges and opportunities
Dates
Year
2010
Citation
Dixon, R.K., McGowan, E., Onysko, G., and Scheer, R.M., 2010, U.S. energy conservation and efficiency policies: Challenges and opportunities: Energy Policy, v. 38, iss. 11, p. 6398-6408.
Summary
Major modifications to the US Federal taxation laws effectively remove oil and gas depletion allowances for large companies. The likely consequence is discouragement of US domestic exploration, reduced domestic supplies and higher prices. A greater section of US output will be provided by the smaller independent companies. Consumption of oil and gas is likely to fall, resulting in a greater degree of national self-sufficiency in these products. Most Americans will gain as taxpayers what they lose as consumers of higher priced oil and gas; the only long-term losers will be owners of land on which oil and gas is found.
Summary
Major modifications to the US Federal taxation laws effectively remove oil and gas depletion allowances for large companies. The likely consequence is discouragement of US domestic exploration, reduced domestic supplies and higher prices. A greater section of US output will be provided by the smaller independent companies. Consumption of oil and gas is likely to fall, resulting in a greater degree of national self-sufficiency in these products. Most Americans will gain as taxpayers what they lose as consumers of higher priced oil and gas; the only long-term losers will be owners of land on which oil and gas is found.