Oil and Gas Taxation covers the United States federal income taxation of domestic oil and gas operations and transactions. The course examines taxation associated with the operational life cycle of oil and gas operations including exploration, development, production and abandonment. The study of transactions involving oil and gas interests analyzes acquisition, disposition, structuring and investment. Course participants learn the historical context and developement of oil and gas provisions found in the U.S. tax law. Current tax legislative proposals or enactments that affect the oil and gas industry are addressed if warranted. The emphasis is on federal income taxation of domestic oil and gas transactions, although certain international tax aspects of the oil and gas business will be referenced throughout the class.