Green-Energy Preferences Via Partnership Status Stalls
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Bipartisan U.S. legislation to allow renewable-energy companies to use a type of partnership structure popular with oil and gas drillers has been stalled by debate over a green-energy tax credit.
Master limited partnerships provide conventional energy companies with tax benefits and access to cheap capital. Houston-based oil and gas company Apache Petroleum Co., the first master limited partnership, was created by its parent company, the Houston-based Apache Corp., in 1981, according to a 1987 report by the Congress’ Joint Committee on Taxation.