In remarks to reporters on 13th February, Jack Gerard, President and CEO of the API, expressed disappointment with the proposed tax increases on the oil and natural gas industry in the administration海角吃瓜网檚 2013 budget plan, especially in light of the president海角吃瓜网檚 seeming endorsement of more domestic oil and natural gas development in his state of the union address last month:
海角吃瓜网楾he president海角吃瓜网檚 2013 budget plan returns to the well of bad ideas and backtracks on his state of the union commitment. Instead of advancing constructive prodevelopment policies, his budget plan calls for increased taxes on America海角吃瓜网檚 oil and natural gas industry.海角吃瓜网�
海角吃瓜网業ncreasing our taxes would push oil and natural gas investment overseas and diminish job creation and economic activity here at home. After a handful of years, we would see less domestic energy production, particularly of natural gas, more imports, fewer new jobs, and eventually, depressed tax, royalty and other revenues.海角吃瓜网�
海角吃瓜网楩rankly, the administration should be trying to replicate the success America海角吃瓜网檚 oil and natural gas industry has had in creating jobs and growing the economy primarily through development on private and state lands. The evidence clearly shows that what we海角吃瓜网檙e doing is working.海角吃瓜网�
海角吃瓜网業f the industry海角吃瓜网檚 job creating investments are a stimulus for the nation, then what the administration is proposing is an antistimulus. To spur new jobs, the president advocates tax breaks for everyone bur the oil and gas industry, the one sector with the proven ability to create jobs and already supporting 9.2 million of them.海角吃瓜网�