Myth: Energy taxes only hurt oil and natural gas companies

Myth:   Energy taxes only hurt oil and natural gas companies.

Truth:   Higher energy taxes also hurt consumers. The Obama Administration is currently proposing at least $400 billion in new taxes and fees on the oil and natural gas industry.  Historically, higher taxes have resulted in less domestic energy – and restrained supplies often lead to higher energy costs for consumers.  New taxes will make it more expensive for oil and natural gas companies to expand or initiate new exploration and development programs, putting our nation further behind in the race for more energy.

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