Biden's Budget won't pass the GOP controlled House

Post Reply
dan_s
Posts: 34570
Joined: Fri Apr 23, 2010 8:22 am

Biden's Budget won't pass the GOP controlled House

Post by dan_s »

5 energy issues to watch in Biden's budget. E&E News.
President Joe Biden set the stage for congressional battles Thursday in unveiling a fiscal 2024 budget proposal that would accelerate federal agencies’ work on low-carbon energy and sweep away long-standing subsidies for the fossil fuel industry. The White House gave only a glimpse at the president’s budget plan and did not release full line-by-line numbers for all federal agencies. That left questions about the administration’s vision for key programs on everything from solar power to carbon capture.By contrast, the White House’s statements on the budget request Thursday took a different tone, calling for the elimination of what it described as $31 billion in “special tax treatment for oil and gas company investments.” “My budget cuts wasteful spending by getting rid of special tax breaks for Big Oil companies that made $200 billion in profit last year in the midst of a worldwide recession,” Biden said in a speech Thursday in Philadelphia. In a statement, Jeff Eshelman, president and CEO of the Independent Petroleum Association of America, said the changes in Biden’s proposed budget to oil and natural gas industry tax provisions “are a direct attack on America’s smaller independent producers who develop most of the nation’s natural gas and oil wells.” < Just political crap.

IPAA supports multiple House bills in the Energy and Commerce Committee and House Natural Resource Committee. World Oil.
The Independent Petroleum Association of America (IPAA) is supportive of multiple House bills that will be marked up in hearings in the Energy and Commerce Committee and the House Natural Resources Committee. In the Energy and Commerce Committee, IPAA supports the “Protecting American Energy Production Act” sponsored by Congressman Duncan (R-SC). This legislation prohibits the President from declaring a moratorium on the use of hydraulic fracturing unless Congress authorizes such a prohibition. The bill also expresses the sense of Congress that states should maintain primacy for the regulation of hydraulic fracturing for oil and natural gas production on state and private lands. IPAA submitted a letter to the Energy and Commerce Committee this week in support of the legislation above. IPAA President & CEO Jeff Eshelman and Chairman Steven Pruett testified in support of the legislation at two separate Energy & Commerce Committee hearings in February - Eshelman (submitted testimony, video) in Washington, Pruett (submitted testimony, video) in Midland, TX.
Dan Steffens
Energy Prospectus Group
Post Reply