President Donald Trump and Republican Congressional leaders have promised a major reform to the U.S. tax code in 2017. This reform, if anything close to these promises, will have significant implications for the energy industry in the U.S., and worldwide. Little of what will ultimately be included in this reform bill is clear at this point. In general, though, the goal of the White House and Congressional Republicans is to make investment, and production in the U.S. more attractive by reducing the associated U.S. tax burden.