API to deliver anti-tax, pro-production message to Congress

05/09/2011
Nick SnowWashington EditorThe American Petroleum Institute will strongly urge Congress in coming weeks to enact policies that encourage more US exploration and production instead of simply raising oil and gas taxes, API Pres. Jack N. Gerard said. "Our government doesn't support our industry, our industry supports our government to the tune of over $85 million/day," he told reporters during a May 3 teleconference."Raising taxes by billions of dollars a year would jeopardize the many benefits we bring to this nation," Gerard continued, adding, "It would substantially raise costs and drive operations and jobs elsewhere. Higher taxes would do nothing to reduce gasolin...
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