Recently, the Obama administration plans to the collection of oil and gas company 31.5 billion U.S. dollars in taxes, said the U.S. too much attention to oil and gas, leaving other industries pay the price. The U.S. Treasury Department's chief economist, said in testimony to the Senate, the Group of Experts, the current subsidies lead to over-investment in oil and gas industry. This is by far the most clearly related to the federal government want an end to domestic oil and gas production support the bill.
Alan Krueger of the expert group said the current U.S. oil and gas industry subsidies to encourage over-production of oil and gas, and accounts for the resources of other industries, but also with the Obama administration to reduce greenhouse gas emissions, develop new clean energy economy goals do not match.
American Petroleum Institute, president of Devon Energy Corp. Chief Executive Officer Larry Nichols said the expert group, which is very ridiculous, the current variety of energy research have shown the need to increase domestic energy sources, rather than oil and natural gas is the most important source of energy, so the fight against oil and natural gas production is utterly unjustifiable.
Sep. 14, 2009
