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TC.014
A credit is provided equal to 15 percent of the taxpayer’s costs for enhanced oil recovery on U.S. projects. If the reference price of oil for the previous calendar year is above $28 (adjusted for inflation from 1990), the credit is reduced in proportion to the ratio of the excess over the $28 threshold to $6. Beyond a $6 difference, the credit is fully phased out.
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
