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API states crude tax hike can cause harm

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World Pipelines,

“The White House’s US$10/bbl tax hike on crude oil could harm consumers, destroy jobs and raise energy costs,” said API President and CEO Jack Gerard.

“This unprecedented tax hike – adding, according to public reports, about 30% to the cost of a barrel of oil and potentially about 25 cents to the cost of a gallon of gasoline – is just the latest bad idea from this administration when it comes to US oil and gas resources. API strongly supports Congressman Boustany’s resolution to oppose this harmful measure.”

Edited from source by Stephanie Roker

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