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Amercians Oppose Tax

Amercians Oppose Tax

The American Petroleum Institute commissioned a recent poll and found that 62 percent of respondents oppose an increase in taxes on the oil and natural gas industry, believing it would destroy jobs. In a statement, API President and CEO Jack Gerard said, “Voters fear that raising taxes on an industry that provides most of their energy and sup...

The American Petroleum Institute commissioned a recent poll and found that 62 percent of respondents oppose an increase in taxes on the oil and natural gas industry, believing it would destroy jobs. In a statement, API President and CEO Jack Gerard said, “Voters fear that raising taxes on an industry that provides most of their energy and supports more than nine million jobs would hurt them and damage the economy. They think it could cost jobs, and that’s exactly what two recent studies show.” The industry is up against several proposals in the White House and Congress that move to repeal tax incentives that encourage drilling for domestic energy.