New Energy Taxes Will Hobble Economy

Congress will soon consider massive new taxes and fees – which could easily exceed $400 billion – on America’s oil and natural gas industry, yet this level could produce devastating effects on our economy, all when America can least afford it.

These unprecedented taxes and fees would reduce investment in new energy supplies at a time when nearly two-thirds of Americans support developing our domestic oil and natural gas resources. That would mean less energy, and it would cost thousands of American jobs, actually reduce local, state and federal revenue, and further erode our energy security.

Learn more and tell Congress to oppose these proposals to impose $400 billion in tax hikes on America’s oil and natural gas companies. By using SocialCapital, you can voice your opinions to public officials and members of Congress about key energy issues via Twitter, Facebook, YouTube and more.

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Imposing More Energy Industry Taxes Will Be Counterproductive

March 2009 - Proposals to increase taxes on the U.S. energy industry will not create energy nor will they create jobs—and the country needs more of both.

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A Climate for High Energy Costs

The House will soon vote on the Waxman-Markey climate change bill, The American Clean Energy and Security Act of 2009, aimed at reducing greenhouse gas emissions. The oil and natural gas industry understands that addressing climate change is important, has made serious commitments to reduce GHG emissions, and is responsible for 44% of the $133 billion in total public and private sector investments in low-carbon energy technology since 2000.

The industry supports legislation to reduce GHG emissions in lieu of ill-suited federal and state regulatory programs. But unfortunately, the approach taken by the Waxman-Markey bill is so fundamentally flawed that the House should reject it. Learn more about this proposed legislation.

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