Congress Reinstates Oil Spill Liability Tax
March 24, 2006
| |
| Tools for Engineers |
| IHS sells standards collections and regulatory information for the oil & gas, petrochemical and utilities industries. For more information and a
price quote, please complete the form below. |
|
Refiners notified customers that the Oil Spill Liability Tax, which expired about 10 years ago, was reinstated.
Congress reinstated the tax with passage of the energy bill last summer.
The tax will be reinstated on April 1, 2006 at a rate of 5 cents per barrel. The tax is imposed at the refiner level and paid by the refiners.
However, marketers may see the tax passed on and possibly noted on invoices as a tax at a rate of $.0012/gallon for petroleum products, with some refiners reducing the rate slightly for blends made with alternative fuels (such as ethanol and bio-diesel).
For more information about how refiners are handling this tax, marketers should check directly with their suppliers.
Marketers are not required to have a separate line item on their invoices noting this tax and there are no parties exempt from or eligible for refunds of this tax.
Source: Petroleum Marketers Association of America (PMAA).
American Gas Foundation Releases Study on the Direct Use of Natural Gas
May 7, 2008
Increased direct use of natural gas in residential and commercial applications can improve the productivity of available energy supplies, reduce overall energy cost and reduce related carbon dioxide (CO2) emissions, according to a study released by the American Gas Foundation (AGF).
DOE to Invest up to $7.3M for 'Deep-Burn' Gas-Reactor Tech R&D
May 7, 2008
The U.S. Department of Energy (DOE) announced a Funding Opportunity Announcement (FOA) valued at $7.3 million for universities, commercial entities and national laboratories with expertise in the concept of nuclear fuel
DOE Seeks to Invest up to $60M for Advanced Concentrating Solar Power Tech
May 7, 2008
The U.S. Department of Energy (DOE) announced the Solar Funding Opportunity Announcement (FOA) for up to $60 million in funding over five years, Fiscal Years (FY) 2008-2012, which includes $10 million in FY 2008 appropriations and $10 million in the FY 2009 Budget request, to support the development of low-cost Concentrating Solar Power (CSP) technology.
NRCAN: Canada Makes Clean Energy Technology Investments
May 5, 2008
Several initiatives to advance clean energy technology in Canada were revealed at the InstEnvironment and Economy at the University of Calgary.
EPRI, EEI Analysis: Utility-Based Energy Efficiency Programs Could Cut Energy Consumption 7-11%
May 5, 2008
Energy efficiency improvements in the U.S. electric power sector could reduce electric consumption by 7-11% more than currently projected over the next two decades if key barriers are addressed, according to a preliminary analysis of potential energy savings released by Electric Power Research Institute (EPRI) and Edison Electric Institute (EEI).
NREL Highlights Leading Utility Green Power Programs
May 5, 2008
The U.S. Department of Energy (DOE) National Renewable Energy Laboratory (NREL) released its annual ranking of leading utility green power programs.
EWEA: More Than One-Third of Future EU Electricity Generating Capacity Will Be Wind Power
May 5, 2008
In its latest report, Pure Power - Wind Energy Scenarios up to 2030, the European Wind Energy Association (EWEA) outlines the road towards large-scale wind energy.
More...
