IPAA’s advocacy team in Washington is the industry’s key voice on upstream (exploration and production) issues for America’s oil companies. The staff and voluntary leadership meet regularly with elected representatives and federal agency staff and leadership. IPAA also litigates in the courts when necessary. Current issues include:
- Tax Reforms – advocating provisions to improve capital retention. Since 2004, this includes successfully defeating Windfall Profits Tax proposals, obtaining improved recovery of development expenditures (G&G costs); a safety net for marginal wells (countercyclical tax credit); improved treatment of existing production (continuing the suspension of the net income limitation on percentage depletion for marginal wells).
- Resource Access – seeking timely processing of leases, permits and inspections; responding to adverse proposals on split estate procedures; advocating for offshore leasing opportunities; litigating to open access to resources.
- Royalty Issues – urging expansion of royalty-in-kind; successfully advocating for marginal production royalty relief onshore and offshore and extension of deepwater royalty incentives and expansion royalty incentives for deep natural gas development in shallower waters; litigating on adverse royalty regulations.
- Environmental Reforms – leading successful efforts to stem federal regulation of hydraulic fracturing and new federal requirements for construction permits for storm water discharges. Continuing efforts to oppose new Spill Prevention, Control, and Countermeasure (SPCC) Plan regulations and to advocate on other regulatory proposals that develop.
For more information on IPAA’s key issues please read the following documents