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Oil and Natural Gas Market Supply and Renewable Portfolio Standard Impacts of Selected Provisions of H.R. 3221

Oil and Natural Gas Market Supply and Renewable Portfolio Standard Impacts of Selected Provisions of H.R. 3221: “This paper responds to an October 31, 2007, request from Representatives Barton, McCrery, and Young requesting the Energy Information Administration (EIA) to assess selected provisions of H.R. 3221, the energy bill adopted by the House of Representatives in early August 2007. The analysis focuses on Title VII, dealing with energy on Federal lands; Section 9611, which would establish a Federal renewable portfolio standard (RPS) for certain electricity sellers; and Section 13001, which would eliminate the eligibility of oil and natural gas producers and refiners to claim deductions under Section 199 of the Internal Revenue Code.”

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