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White House has mixed review of House energy bill
02/05/2007
The administration of President George W. Bush supports repealing certain tax provisions favoring oil and gas and encouraging holders of deepwater Gulf of Mexico leases issued in 1998-99 without price thresholds to voluntarily renegotiate terms.But it opposes compelling those leaseholders to renegotiate or pay extra fees or be barred from future lease sales. It also opposes removing the oil and gas industry from a tax reduction applied to other US manufacturers, the White House’s Office of Management and Budget said.OMB made the remarks in an administrative policy statement on Jan. 17, one day before the House passed, by a 264-163 vote, HR 6-the “Creating Long-term Energy Alte...
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