Petroleum Independent articles from August 1991

Petroleum Independent archives from August 1991

Congress taking its time on energy legislation.
August 1, 1991... National energy strategy legislation continues a slow and increasingly contentious move through the Congress. Thus far, congressional versions of the legislation have deviated greatly from the president's proposals that, in IPAA's view, did...

FERC proposes fixed variable rates. (Federal Energy Regulatory Commission)
August 1, 1991... On July 31, the Federal Energy Regulatory Commission issued a landmark policy proposal on pipeline rates and services. In what is popularly known as the "Mega-NOPR" (Notice of Proposed Rulemaking), FERC proposes to require pipelines to file...

FERC's Mega-NOPR. (Federal Energy Regulatory Commission)
August 1, 1991... Editor's Note: The following analysis of the FERC Mega-NOPR is taken from an IPAA White Paper distributed August 1 to leading association members. FERC's Mega-NOPR contemplates a major restructuring of interstate pipeline services. The...

IRS revises treatment of net profit interests.
August 1, 1991... The Internal Revenue Service has reexamined its position regarding the tax treatment of net profits interests burdening multiple properties--and has sent letters to many producers informing them it is revoking private letter rulings formerly...

IPAA meets with both sides on U.S./Mexico free trade. (Independent Petroleum Association of America)
August 1, 1991... Top staffers of the Independent Petroleum Association of American recently met separately with U.S. officials and representatives of Mexican officials working on the U.S./Mexico free trade agreement. IPAA President Denise Bode and Vice President...

Low natural gas prices take toll on industry.
August 1, 1991... In February U.S. natural gas prices fell to their lowest seasonal level in more than a decade. They remain at record lows. By July spot prices had fallen to $1.07 per million Btu, or 21 percent below the year-ago level. In many regions of the...

IPAA lobbies Congress for a balanced approach. (Independent Petroleum Association of America) (IPAA Environmental Special Section)
August 1, 1991... A continuing challenge for our industry is maximizing energy production--while responding to legitimate environmental concerns. Determining what is a legitimate concern is the key to that challenge. A balance must be struck to ensure...

Costs vs. benefits. (IPAA Environmental Special Section)
August 1, 1991... Editor's Note: Garbage Gridlock? Will RCRA wreck the economy? A series of articles beginning on June 13 in the Washington Times opened with those headlines. Syndicated columnist Warren Brooks went on to offer an overview of industry issues in...

IPAA prepares for RCRA hearings. (Independent Petroleum Association of America; 1976 Resource Conservation and Recovery Act) (IPAA Environmental Special Section)
August 1, 1991... More regulation of oil and gas exploration and production (E&P) will be the focus of debate at the House and Senate hearings in September on the reauthorization of the 1976 Resource Conservation and Recovery Act (RCRA). However, after an...

Defining and managing E&P wastes. (petroleum exploration and production) (IPAA Environmental Special Section)
August 1, 1991... Drilling for and producing oil and natural gas results in four wastes: drilling "muds," produced waters, associated wastes, and some industrial wastes. Current state and federal regulations (and agreements with landowners) set requirements for...

IPAA named to EPA advisory committee on UIC. (Independent Petroleum Association of America; Underground Injection Controls program) (IPAA Environmental Special Section)
August 1, 1991... The Environmental Protection Agency is seeking input from environmental groups, state agencies, industry, and trade associations--including the Independent Petroleum Association of America concerning the Safe Water Drinking Act. The purpose of...

The federal wetlands policy debate focuses on balanced objectives. (IPAA Environmental Special Section)
August 1, 1991... What should be contained in a new federal wetlands program? The National Wetlands Coalition, a Washington-based association of 64 public and private landowners and land users, believes a national wetlands policy will only make sense if it...

Barite certification program takes shape at PESA. (Petroleum Equipment Suppliers Association)
August 1, 1991... Editor's Note: Aston Hinds is vice president, environmental operations, with Baroid Drilling Fluids, Inc., a wholly owned subsidiary of Baroid Corp., Houston. He is a nationally recognized environmental specialist who has served as technical...

Little help for independents. (explanation of Tax Simplification Act of 1991 to independent tax payers)
August 1, 1991... Tax simplification has long been regarded on Capitol Hill as an oxymoron. On June 26, House Ways and Means Committee Chairman Dan Rostenkowski (D-Ill.) did little to change that impression by introducing a tax package dubbed the Tax...