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President Obama海角吃瓜网檚 proposal to add a new US$10/bbl tax on crude oil would harm consumers, said API President and CEO, Jack Gerard.

Gerard said, 海角吃瓜网淭he White House thinks Americans are not paying enough for gasoline, so they have proposed a new tax that could raise the cost of gasoline by US$0.25/gal. and harm consumers that are enjoying low energy prices, destroy American jobs and reverse America海角吃瓜网檚 emergence as a global energy leader.海角吃瓜网�

Gerard continued, 海角吃瓜网淥n his way out of office, President Obama has now proposed making the United States less competitive.海角吃瓜网�

The API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million US jobs and 8% of the US economy. API海角吃瓜网檚 more than 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation海角吃瓜网檚 energy and are backed by a growing grassroots movement of more than 30 million Americans.

Adapted from press release by

Read the article online at: /business-news/05022016/api-warns-obama-oil-tax-proposal-would-harm-consumers-2380/