Noel Griese of the Energy Pipeline News is reporting on a move by South Dakota to charge an environmental clean up tax on pipelines carrying oil. The tax rate would be 2 cents per barrel for pipelines carrying more than 10,000 barrels per day. The money collected would go into a fund to cover costs of cleaning up oil releases, but the fund would be capped at $30 million.
TransCanada Pipelines Limited, which plans to build the Keystone XL oil pipeline through South Dakota, opposes the tax. TransCanada suggests it will lose an estimated $38 million in tax incentives. Wayne Ortman of The Oklahoman reports that Dennis Duncan, a lobbyist for TransCanada, says that the company would be paying $20 million in property taxes annually on the pipeline and that the new tax bill could damage South Dakota's pro-business and tax friendly image.
Read the articles at the following links:
Noel Griese Article at Energy Pipeline News
Wayne Ortman article at NewsOK
No comments:
Post a Comment