Clean Energy (CLNE)

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Oil, Coal, and Natural Gas
The president’s budget eliminates multiple provisions pertaining to the treatment of oil, coal, and natural gas. The eliminated provisions for oil and natural gas include:
Expensing of intangible drilling costs
Percentage depletion for oil and natural gas wells
Domestic manufacturing deduction for oil and gas (Section 199)
Increase in amortization period for independent producers to seven years
Dual Capacity (International Tax Provision)
The eliminated provisions for coal include:
Expensing of exploration and development costs
Percentage depletion for hard mineral fossil fuels
Capital gains treatment for royalties
Domestic manufacturing deduction for coal and other hard mineral fossil fuels (Section 199)
Revenue Estimates of Tax Changes Included in the President’s Budget
We’ve included below a table of the revenue estimates of the tax changes in President Obama’s budget. The budget includes net revenue increases of $1.759 trillion over the next ten years, which includes tax increases of over $1.3 trillion (as outlined below). This table does not include the revenue the budget raises from new fees, such as the mandatory surcharge for air traffic services or revenues gained from new compliance rules.