O’Melveny Worldwide

The Inflation Reduction Act at One Year: Milestones Achieved with Miles to Go

October 10, 2023

Recorded Webinar: Tax Credits Still Available for Renewable, Oil, Gas, and Midstream Companies--and Their Investors

View Presentation materials here.

The lynchpin of Joe Biden’s sweeping climate change initiative is the Inflation Reduction Act (the “IRA”) passed in August of 2022. The IRA provides massive tax benefits, estimated to be approximately US$380 billion, for investment in a broad array of renewable and “clean energy” related projects, including facilities and processes that are either routinely done by oil, gas, and midstream companies, or that many companies are considering adding to their operations because of Environmental, Social, and Corporate Governance (“ESG”) considerations. The potential advantages provided for in this legislation are enormous. One year out, it is clear that this legislative package is on its way to achieving much of its intended purpose, but to be fully successful there are still a significant number of unanswered questions.

This webinar is intended to address and explain many of the provisions set forth in the IRA so that participants can identify untapped value streams and potential tax benefits, and will also address certain provisions of the IRA that will require further governmental guidance and clarification before investors will feel confident deploying significant capital to take advantage of such provisions’ intended benefits. For our oil, gas, and midstream clients, we want you to understand projects that other companies are putting into place to take advantage of these tax credits as they enhance their ESG profiles.

Specific topics covered will include:

  • An Overview of Tax Credits that Are Available
  • Projects that Qualify for Tax Credits
  • Need for IRS and Treasury Guidance
  • Technology and Compliance Issues
  • Contracting Issues for Sharing Tax Credits

We hope you can join us for this timely and informative session as we examine issues relating to the IRA which continue to be of concern to our clients. The webinar will include a live Q&A session; however, in the event that you cannot join us for the live webinar, we will be emailing a link to the recording for you to review at your convenience.

The Inflation Reduction Act at One Year: Milestones Achieved with Miles to Go
Tuesday, October 10
10:00 am - 11:30 am PST
12:00 pm - 1:30 pm CST
1:00 pm - 2:30 pm EST

Webinar Recording
Presentation Materials

For questions about the webinar, and to submit specific questions for the panelists to address, please contact Isabella Bacino, ibacino@omm.com.

This program is eligible for 1.50 hours of General CLE credit in California and Texas and 1.50 hours of Professional Practice CLE credit in New York. O’Melveny & Myers LLP is an accredited provider of CLE in California, New York and Texas. CLE applications will be filed in other jurisdictions upon request. In general, O'Melveny is unable to offer Pennsylvania CLE credit at this time.