Resources for Oil Spill Research and Prevention Act

H.R. 4213 Tax extenders bill would extend $30 billion worth of expired and expiring tax cuts with potential revenue offsets that would impact oil and gas industry; H.R. 5297 Small Business and Infrastructure Jobs Tax Act, a bill that includes provisions related to incentivizing jobs with revenue offsets potentially impacting oil and gas industry; H.R. 5995 and H.R. 5905 potentially impacting the ability to deduct oil spill related expenses; Administration Budget proposal impacting oil and gas industry; H.R. 5644, H.R. 5435, S. 3663, S. 3793, S. 3580, S. 3542, S. 3405 bills all containing repeal of Section 199, repeal of the Intangible Drilling Cost rules and repeal of Last In First Out.

Client expense: $1,900,000 · Firm income: Not reported

Government targets: Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Natl Security Council (NSC), Office of Management & Budget (OMB), SENATE, State, Dept of (DOS)

Whole Bills: S. 3516, Outer Continental Shelf Reform Act; H.R. 3534, Consolidated Land, Energy, and Aquatic Resources Act; S. 3305, Big Oil Bailout Prevention Liability Act; S. 3306, Big Oil Bailout Prevention Trust Fund Act; S. 3763, Restoring Ecosystem Sustainability and Protection on the Delta Act; S. 3643, Oil Spill Response Improvement Act; H.R. 2693, Oil Pollution Research and Development Reauthorization Act; S. 3614, Oil Spill Response Act; S. 3597, Securing Health for Ocean Resources and Environment (SHORE) Act; S. 3600, Fairness in Admiralty and Maritime Law Act; H.R. 5716, Safer Oil and Natural Gas Drilling Technology Research and Development Act; S. 3643, Oil Spill Response Improvement Act; H.R. 5629, Oil Spill Accountability and Environmental Protection Act; H.R. 5626, Blowout Prevention Act; H.R. 5503, Securing Protections for the Injured from Limitations on Liability Act; S. 3588, A bill to limit the moratorium on certain permitting and drilling activities issues by the Secretary of the Interior, and for other purposes; S. 3580, Resources for Oil Spill Research and Prevention Act; H.R. 5772, To limit the moratorium on certain permitting and drilling activities issued by the Secretary of the Interior, and for other purposes; H.R. 5851, Offshore Oil and Gas Worker Whistleblower Protection Act; S. 685, Oil Spill Prevention Act of 2009; S. 3663, Clean Energy Jobs and Oil Company Accountability Act. S. 3815, Promoting Natural Gas and Electric Vehicles Act, Title III, Section 3001 (a)(B), relating to the Oil Spill Liability Trust Fund. Legislative and regulatory efforts concerning a moratorium on offshore oil and gas drilling in the Gulf of Mexico.

Client expense: $1,820,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Council on Environmental Quality (CEQ), Energy, Dept of, Environmental Protection Agency (EPA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Internal Revenue Service (IRS), Minerals Management Service, Natl Economic Council (NEC), Office of Management & Budget (OMB), SENATE, Securities & Exchange Commission (SEC)

H.R. 4853, tax issues that could impact oil and gas industry such as revenue offsets; H.R. 4213 Small Business and Infrastructure Jobs Tax Act, includes provisions related to incentivizing jobs, includes potential impacts to oil and gas industry taxes; Administrations Budget proposal, impacts to oil and gas industry including repeal of Section 199, repeal of IDC rules and repeal of LIFO; H.R. 5644, H.R. 5435, S. 3663, S. 3793, S. 3580, S. 3542, and S. 3405 all potential for tax changes that would impact oil and gas industry as included in the Administrations Budget proposal; H.R. 5995 and H.R. 5905 issue of deductibility of oil spill-related expenses.

Client expense: $2,155,000 · Firm income: Not reported

Government targets: Energy, Dept of, Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Minerals Management Service, Natl Security Council (NSC), SENATE, State, Dept of (DOS)