Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 509.40
Bid: 510.30
Ask: 510.40
Change: -11.00 (-2.11%)
Spread: 0.10 (0.02%)
Open: 520.00
High: 521.80
Low: 508.50
Prev. Close: 520.40
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

US Lawmakers Cautious On Obama Bid To Restore Superfund Taxes

Mon, 21st Jun 2010 22:54

By Martin Vaughan Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The Obama administration on Monday stepped up its push to reinstate lapsed environmental clean-up taxes on oil, gas and chemical producers. But lawmakers in Congress signaled that they will proceed with caution. The Environmental Protection Agency sent draft legislation to House Speaker Nancy Pelosi (D., Calif.) that would renew the taxes, which haven't been in effect since 1995. "Our taxes should be paying for teachers, police officers and infrastructure that is essential for sustainable growth--not footing the bill for polluters," said Mathy Stanislaus, assistant administrator for EPA's Office of Solid Waste and Emergency Response. Industry groups fired back that the proposed taxes will cost U.S. jobs, and some said the proposal appears to be an attempt by the administration to use the backlash surrounding the Gulf of Mexico oil spill to pass its agenda. "We assume that this is an effort to penalize BP [PLC] (BP, BP.LN) and the various oil producers, and we see ourselves as collateral damage in that," said Walter Moore, vice president of federal affairs at the American Chemistry Council. The group's members include Dow Chemical Co. (DOW), FMC Corp. (FMC) and W.R. Grace & Co. (GRA). Chemical producers note that they already foot the bill to clean up waste sites under the Superfund law's liability provisions. The trust fund, which is supported by the taxes, is tapped only to clean up "orphan" sites, or those where the responsible party is bankrupt. The taxes the administration proposed Monday include a tax of 9.7 cents per barrel on oil, a chemical excise tax of 22 cents to $4.87 per ton, and a broad-based corporate environmental income tax. Rep. Earl Blumenauer (D., Ore.) and Sen. Bill Nelson (D., Fla.) have championed proposals to renew the taxes. But few other lawmakers rushed forward Monday to embrace the administration's plan. The taxes come under the jurisdiction of the House Ways and Means and Senate Finance Committees, which have shown no eagerness in recent years to restore them. Senate Finance panel Chairman Max Baucus (D., Mont.) "is studying the administration's proposal very closely to determine the best step forward for taxpayers, our environment and the jobs that depend on it," said a Finance Committee Democratic aide. Drew Hammill, a spokesman for Pelosi, said the speaker "strongly supports the concept that polluters should pay for cleanup. "We'll be reviewing the administration's proposal in the days and weeks ahead." One Democratic congressional aide said lawmakers will be reluctant to impose a broad tax increase like the corporate environmental tax, in the midst of an economic recovery. The income tax, a 0.12% add-on to the corporate alternative minimum tax, accounts for about $1 billion of the $1.8 billion per year it is estimated that the taxes taken together would raise. At the same time, congressional pay-as-you-go budgeting rules have created a larger appetite for new revenue sources to offset new spending. Lawmakers might be driven, in the current deficit environment, to give the Superfund taxes a closer look. Congress has appropriated more than $1.2 billion per year in the past four years from the general fund to pay for Superfund cleanup, according to figures provided by Blumenauer's office. "The administration is on board, and I am committed to ensuring that the industries that had a hand in creating the problem will once again be held accountable for cleaning it up," Blumenauer said. -By Martin Vaughan, Dow Jones Newswires; 202-862-9244; martin.vaughan@dowjones.com (END) Dow Jones Newswires June 21, 2010 17:54 ET (21:54 GMT)
More News
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
2 Apr 2024 23:07

Sector movers: Builders and REITS slip, geopolitics boost Big Oil and gold miners

(Sharecast News) - Personal Goods was at the bottom of the pile on the FTSE 350 at the start of the second quarter, as fashion retailer Burberry Group's shares fell back towards their five-year lows.

Read more
2 Apr 2024 16:57

LONDON MARKET CLOSE: Europe down after Easter holiday weekend

(Alliance News) - The FTSE 100 took a hit on Tuesday, after a boost from London's miners and oil firms were not enough to lift the index.

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:55

European oil stocks gain on expectations for higher demand, supply concerns

Read more
28 Mar 2024 10:00

How the oil industry is thriving despite Joe Biden's climate policies

GRAPHIC on Biden's oil boom: https://www.reuters.com/graphics/USA-BIDEN/OIL/lgpdngrgkpo/

By Nichola Groom, Jarrett Renshaw

Read more
27 Mar 2024 20:59

New England offshore wind auction draws multiple bidders

March 27 (Reuters) -

Read more
27 Mar 2024 12:47

Ithaca Energy gets bid rights on Eni's UK assets, profit slips

March 27 (Reuters) - Ithaca Energy has been given a four-week exclusivity period by Italy's Eni, to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.

Read more
27 Mar 2024 09:01

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more
27 Mar 2024 08:31

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more
25 Mar 2024 16:51

LONDON MARKET CLOSE: Renewed global tensions put pressure on stocks

(Alliance News) - Stock prices in London started the week in bad shape and closed lower on Monday, as investors sat on their hands amid rising global tensions.

Read more
21 Mar 2024 15:00

UK dividends calendar - next 7 days

Friday 22 March 
easyJet PLCdividend payment date
FRP Advisory Group PLCdividend payment date
Gulf Investment Fund PLCdividend payment date
Henderson Opportunities Trust PLCdividend payment date
Hercules Site Services PLCdividend payment date
Impax Asset Management Group PLCdividend payment date
JLEN Environmental Assets Group Ltddividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mobeus Income & Growth 2 VCT PLCdividend payment date
Mobeus Income & Growth 4 VCT PLCdividend payment date
Ramsdens Holdings PLCdividend payment date
Riverstone Credit Opportunities Income PLCdividend payment date
Ruffer Investment Co Ltddividend payment date
Samuel Heath & Sons PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Unilever PLCdividend payment date
Monday 25 March 
AstraZeneca PLCdividend payment date
Endeavour Mining PLCdividend payment date
Mountview Estates PLCdividend payment date
Shell PLCdividend payment date
Tuesday 26 March 
no events scheduled 
Wednesday 27 March 
abrdn Diversified Income & Growth PLCdividend payment date
Thursday 28 March 
Alliance Trust PLCdividend payment date
Balanced Commercial Property Trust Ltddividend payment date
Berkeley Group Holdings PLCdividend payment date
BHP Group Ltddividend payment date
BlackRock Energy & Resources Inc Trust PLCex-dividend payment date
BlackRock Sustainable American Income Trust PLCex-dividend payment date
BlackRock Throgmorton Trust PLCdividend payment date
BP PLCdividend payment date
City of London Investment Group PLCdividend payment date
Crown Place VCT PLCdividend payment date
CT UK Capital & Income Investment Trust PLCdividend payment date
Develop North PLCdividend payment date
Diversified Energy Co PLCdividend payment date
Downing Renewables & Infrastructure Trust PLCdividend payment date
Gateley Holdings PLCdividend payment date
Genus PLCdividend payment date
Hargreaves Lansdown PLCdividend payment date
HICL Infrastructure PLCdividend payment date
Idox PLCex-dividend payment date
Imperial Brands PLCdividend payment date
Melrose Industries PLCex-dividend payment date
Mid Wynd International Investment Trust PLCdividend payment date
Moneysupermarket.com Group PLCex-dividend payment date
NextEnergy Solar Fund Ltddividend payment date
North Atlantic Smaller Cos Investment Trust PLCdividend payment date
Personal Group Holdings PLCex-dividend payment date
Premier Miton Global Renewables Trust PLCdividend payment date
Quartix Technologies PLCex-dividend payment date
Renewables Infrastructure Group Ltddividend payment date
Schroder Real Estate Investment Trust Ltddividend payment date
SDCL Energy Efficiency Income Trust PLCdividend payment date
Smith & Nephew PLCex-dividend payment date
Taylor Wimpey PLCex-dividend payment date
Thames Ventures VCT 2 DSO 1 D PLCdividend payment date
Travis Perkins PLCex-dividend payment date
Utilico Emerging Markets Trust PLCdividend payment date
Vaalco Energy Incdividend payment date
Value & Indexed Property Income Trust PLCex-dividend payment date
VH Global Sustainable Energy Opportunities PLCdividend payment date
Volution Group PLCex-dividend payment date
Wynnstay Group PLCex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.