WASHINGTON, January 18, 2007 - API issued the following statement today following House approval of HR 6 that would increase taxes on U.S. oil and natural gas companies: "HR 6 is a repeat of failed energy legislation and is a disappointment for all Americans who want to insure a secure energy future. Punitive taxes on the U.S. oil and natural gas industry are ultimately anti-consumer and contrary to the goal of providing stable and cost-effective supplies."