CERA: Tax hikes would hit already hamstrung US oil industry

09/27/2010
White House proposals to increase oil and taxes would harm a US industry that is already having trouble competing globally, officials from the US Chamber of Commerce and IHS Cambridge Energy Research Associates warned.They cited a CERA study that concluded that US tax policies are not able to invest as effectively as their non-US competitors, including publicly traded multinationals as well as national oil companies. "In framing tax policies, the US is not a global sovereign. It exists with other sovereigns, and tax decisions need to be made in the context of a world that's not only competitive but becoming increasingly competitive," CERA Chairman Daniel Yergin told reporters in...
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