Fiscal

FERC Collects Millions in Penalties, Disgorged Profits

FERC obtained more than $148 million in civil penalties and disgorgement of more than $119 million in unjust profits in fiscal year (FY) 2012, according to the agency’s annual report on enforcement, which was released last Thursday.

November 19, 2012

$277M in Penalties, Disgorged Profits Collected by FERC in FY2012

FERC obtained more than $148 million in civil penalties and disgorgement of more than $119 million in unjust profits in fiscal year (FY) 2012, according to the agency’s annual report on enforcement, which was released Thursday.

November 19, 2012

House Panel Cuts CFTC Funding, Despite Extra Regulatory Load

The head of the Commodity Futures Trading Commission decried a House appropriations subcommittee’s vote last week to reduce spending for the agency in fiscal year (FY) 2013. The move comes at a time when the CFTC is gearing up to oversee the multi-trillion-dollar derivatives market.

June 11, 2012

Texas Judge Reverses Decision on Drilling Tax Exemption

A district court judge in Texas has reversed his earlier ruling that oil and natural gas equipment used “below ground” should be exempt from state sales taxes on extraction equipment.

May 8, 2012

Barring Appeal, Tax Exemption Ruling Could Cost Texas $4.4B

Texas could lose an estimated $4.4 billion in revenue from oil and gas sales taxes, depending on how a district court judge tailors his ruling on exempting oil and gas companies from paying the state sales taxes on extraction equipment.

April 18, 2012

Severance Tax Hike, Oil and Gas Law on Ohio Radar

Two members of the Ohio General Assembly announced Tuesday that they are drafting a bill that calls for raising the state’s severance tax on natural gas drilling and would create a fund for localities where drilling takes place.

March 1, 2012

House Republicans, Salazar Square Off Over Fracking

Hydraulic fracturing (fracking) took center stage at a House hearing Wednesday on the fiscal year (FY) 2013 Interior Department budget, with Secretary Ken Salazar saying that he hopes that federal government research into the shale gas practice will end “a lot of the hysteria” surrounding the drilling practice.

February 16, 2012

LIHEAP Takes Big Hit in Obama Budget

The Obama administration Monday proposed 41% less in funding for the energy assistance program for fiscal year (FY) 2013 than was sought by a major utility group.

February 15, 2012

Federal Agency Budgets Target Hydraulic Fracturing Studies

President Obama’s fiscal 2013 budgets for the Environmental Protection Agency (EPA), Department of Energy (DOE) and Department of Interior (DOI) propose funding directed at assessing the impact of hydraulic fracturing (fracking) of shale.

February 14, 2012

House Panel Strips Proposed Oil, Gas Fee Hikes from FY 2012 Budget

Oil and natural gas producers got a dose of good news Wednesday when the House Appropriations Committee released its fiscal year (FY) 2012 spending bill for the Interior Department, Environmental Protection Agency (EPA) and related agencies.

July 7, 2011