More taxes on the oil and gas industry means higher gas prices and less money towards securing our nations energy sources, which decreases our productivity creating more efficient hydraulic fracturing technology.
In Washington, members of congress are claiming that increasing taxes will lower gas prices, which simply is not true. In fact, increasing taxes could ultimately increase gas prices – So maybe you should think twice about planning your next road trip with your family.
“Raising taxes will not lower energy prices for American families and businesses—in fact, the Congressional Research Service says this plan could cause gasoline prices to go higher,” said API President and CEO Jack Gerard. “Our new campaign in key states will explain that more domestic production is critical to putting downward pressure on gasoline prices—supply matters.”
API released an advertising campaign to help spread the word, “Higher Taxes, Higher Gas Prices.” The campaign is targeted to Washington, Missouri, Massachusetts, West Virginia, Virginia, North Carolina, Maine and Nevada, and will hopefully encourage their U.S. Senators to reject new taxes on the industry
“It’s time to work together on a national energy strategy that focuses on developing all American energy resources,” said Gerard. “A true all-of-the-above strategy will create jobs, provide much needed revenue for our government, and secure our nation’s energy future.”