Oil, gas trade groups ask Congress to shun calls for higher taxes

Fourteen US oil and gas trade associations asked US congressional leaders to resist proposals to increase oil and gas taxes during the 2012 yearend lame duck session as an early step to address the looming federal fiscal crisis.

“Through hundreds of billions of dollars invested to develop vast new oil and natural gas reserves, this industry is not only producing the energy a growing economy demands, but also creating tens of thousands of high-paying jobs while generating billions in new revenue for the government,” the Nov. 27 letter to US Senate Majority Leader Harry M. Reid (D-Nev.), Senate Minority Leader Mitch McConnell (R-Ky.), US House Speaker John A. Boehner (R-Ohio), and House Minority Leader Nancy Pelosi (D-Calif.) said.

“Therefore, any attempts to target the oil and gas industry for punitive treatment should be avoided as higher taxes could put the economic growth we’ve created at risk,” it continued.

The letter was signed by top officials from the American Petroleum Institute, Independent Petroleum Association of America, American Fuel & Petrochemical Manufacturers, Natural Gas Supply Association, American Exploration & Production Council, America’s Natural Gas Alliance, Association of Energy Service Cos., National Ocean Industries Association, Petroleum Equipment Suppliers Association, and five other industry associations.

Contact Nick Snow at nicks@pennwell.com.

Related Articles

Market watch: Energy futures prices rose slightly Friday

05/06/2002 Crude oil futures prices rose slightly Friday amid lingering uncertainty about a possible disruption of Middle East supplies, although tensions in ...

Gulf of Mexico oil service sector showing signs of an upturn

05/06/2002 The Gulf of Mexico oil service sector is experiencing the signs of an upturn, analysts with Simmons & Co. International, UBS Warburg LLC, and RBC D...

OTC: Industry, national agencies need to work together to make FPSOs work in the gulf

05/06/2002 Over the coming years, the oil and gas industry will have to keep an open line of communication with national agencies such as the US Coast Guard a...

Market watch: Energy futures prices fall as Iraq lifts embargo

05/07/2002 Crude oil futures prices fell Monday after Iraq announced plans to lift a self-imposed export embargo with exports expected to resume by Wednesday.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected