Energy Taxes

At a time when America needs economic stability and increased energy security, the government should not impose new taxes and fees on the oil and natural gas industry.

Some policymakers are considering raising taxes on America’s oil and natural gas industry.  This is a flawed proposal that would negatively impact the industry’s ability to create new jobs — and could disrupt the supply of reliable, affordable energy that America’s employers rely on to run their businesses.

In addition, higher energy taxes could endanger the significant tax revenue the industry generates for our federal, state and local governments.  As our policymakers look for solutions to America’s deficit crisis, cutting into this flow of tax revenue could only make this crisis worse.

Here are some real and potential consequences of higher energy taxes on the oil and natural gas industry:

At a time when other countries are providing incentives to develop their own energy resources, the United States is the only country actively discouraging it. The bottom line is that what happens in the oil and natural gas industry reverberates throughout the entire economic spectrum.