We would love to hear your thoughts about our site and services, please take our survey 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
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
19 Mar 2024 16:57

LONDON MARKET CLOSE: European large-caps rise on eve of Fed decision

(Alliance News) - Blue-chip stock prices in Europe closed higher on Tuesday, showing little signs of nerves ahead of Wednesday's Federal Reserve decision and UK inflation reading.

Read more
19 Mar 2024 11:52

LONDON MARKET MIDDAY: European markets flat ahead of Fed and BoE

(Alliance News) - Stock prices in London were down at midday on Tuesday, as investors sat on their hands ahead of interest rate decisions from the UK and US.

Read more
18 Mar 2024 11:49

LONDON MARKET MIDDAY: FTSE 100 as shakes off pre-interest rate nerves

(Alliance News) - Stock prices in London were higher at midday Monday, as eyes were firmly on interest rate decisions across the globe.

Read more
15 Mar 2024 13:07

IN BRIEF: Costain wins place on GBP4 billion carbon capture project

Costain Group PLC - Maidenhead, Berkshire-based construction and engineering firm - Selected as one of nine specialist partners to deliver a carbon capture project beneath the North Sea off the east cost of England. The engineering, procurement, and construction contracts for the East Coast Cluster have a combined value of around GBP4 billion, Costain says. The contracts will be with Net Zero Teesside Power and the Northern Endurance Partnership. NZT Power is a electricity generating joint venture of the UK's BP PLC and Norway's Equinor. NEP is a joint venture of BP, Equinor and France's TotalEnergies SE that will provide CO2 transport and storage for the East Coast Cluster. Final investment decisions are expected in September or earlier, with the projects aiming for commercial operations from 2027.

Read more
15 Mar 2024 12:11

LONDON MARKET MIDDAY: FTSE 100 underperforms despite mining, oil boost

(Alliance News) - London's FTSE 100 overcame a muted morning to head into Friday afternoon on the up, though its progress was shy of the loftier gains seen by mainland European peers, as investors showed some signs of trepidation ahead of a pair of interest rate decisions next week.

Read more
14 Mar 2024 11:54

BP details green credentials in similar push towards net zero as Shell

(Alliance News) - BP PLC on Thursday outlined similar targets to cut emissions as peer Shell PLC, as both oil and gas majors strive to become net zero for carbon emissions by 2050.

Read more
14 Mar 2024 10:19

BP picks up Ashford site to boost electric charging scope for trucks

(Alliance News) - BP PLC on Thursday stepped up plans to increase its electric charging capacity for heavy goods vehicles by buying one of the largest truck stops in Europe.

Read more
8 Mar 2024 13:42

BP appoints Aviva boss Amanda Blanc as senior independent director

(Sharecast News) - Oil giant BP said on Friday that it has appointed Aviva chief executive Amanda Blanc as senior independent director with effect from after the annual meeting on 25 April.

Read more
8 Mar 2024 12:20

IN BRIEF: BP promotes Aviva chief executive officer to senior director

BP PLC - London-based oil major - Non-Executive Director Amanda Blanc will be appointed as a senior independent director, effective from April 25 at the conclusion of BP's annual general meeting. Blanc joined BP's board in September 2022. She has been group chief executive officer of Aviva PLC since July 2020. Company also says Senior Independent Director Paula Reynolds will retire at the AGM's conclusion, having served on the board for nine years. Non-Executive Director John Sawers will also be retiring.

Read more
8 Mar 2024 10:33

BP pays Auchincloss £8m in 2023, claws back £1.8m from Looney

(Sharecast News) - BP chief executive officer Martin Auchincloss was paid £8m for his services in a particularly prosperous year, it was revealed on Friday, as it managed to claw back a further £1.8m from its former head Bernard Looney.

Read more
4 Mar 2024 15:29

London close: Stocks languish ahead of Wednesday's Budget

(Sharecast News) - London's stock markets finished in the red on Monday, reflecting investor apprehension ahead of the impending Spring Budget.

Read more
4 Mar 2024 10:43

Jefferies upgrades BP to 'buy'

(Sharecast News) - Jefferies upgraded BP on Monday to 'buy' from 'hold' and lifted the price target to 570p from 520p.

Read more
4 Mar 2024 08:59

LONDON BROKER RATINGS: Jefferies says buy BP; UBS says buy Compass

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
4 Mar 2024 08:55

LONDON MARKET OPEN: Review cuts Hipgnosis Songs Fund valuation

(Alliance News) - Stock prices in London opened mostly lower on Monday, as investor attention remained primarily on the release of the UK Spring budget on Wednesday.

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.