Inflation Reduction Act
IPAA Assessment of Methane Tax and Federal Lands Provisions in Inflation Reduction Act
On August 18, 2022, the IPAA issued two assessments on the Inflation Reduction Act that was passed into law recently, related to methane tax and federal lands issues.
In short, IPAA President & CEO Barry Russel said, “While there is some good in the reconciliation bill, including provisions that help offshore energy production and facilitate carbon capture development, the bill will harm the ability of America’s oil and natural gas producers to successfully operate to their potential.”
Issues from the IRA that IPAA noted:
Methane Tax
Federal Lands and Waters
MOGA will be providing more opportunities and information for members on the Inflation Reduction Act and how it impacts your business.
On August 18, 2022, the IPAA issued two assessments on the Inflation Reduction Act that was passed into law recently, related to methane tax and federal lands issues.
In short, IPAA President & CEO Barry Russel said, “While there is some good in the reconciliation bill, including provisions that help offshore energy production and facilitate carbon capture development, the bill will harm the ability of America’s oil and natural gas producers to successfully operate to their potential.”
Issues from the IRA that IPAA noted:
- Methane tax singles out the oil and gas industry
- Creates disincentives to oil and natural gas production on federal lands at a time when our country needs more energy, not less
- IRA adds costs and regulations to producers instead of taking actions to support American energy production
- Exacerbate supply concerns at a time of high crude and gasoline prices
Methane Tax
Federal Lands and Waters
MOGA will be providing more opportunities and information for members on the Inflation Reduction Act and how it impacts your business.
