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Taxes

Increased energy taxes can lead to lost jobs, reduced energy production and higher energy costs. Now is not the time to institute new taxes on the industry. This move would not only directly impact our business—placing millions of jobs at risk—but it could also affect our ability to develop the reliable, affordable energy we rely on each day. Click to learn more.

Producing America’s resources of oil and natural gas isn’t cheap. Our industry spends hundreds of billions of dollars every year on wages, technology, research and the development of energy resources. We also provide billions of tax dollars that support schools, first responders and our transportation system, among other vital public services.

What’s more, our industry is one of the most heavily taxed industries in America—paying taxes nearly double those of other manufacturers. But in spite of this, President Obama’s proposed budget calls for increased taxes to be levied on the oil and natural gas industry, an act that would threaten U.S. job creation and energy security.

Instead of increasing taxes, Congress and the administration should allow our industry to lead an economic recovery by producing more oil and natural gas—and good-paying jobs along with it—right here at home.

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