WASHINGTON, July 29, 2013 – API Director of Tax Policy Stephen Comstock today announced an advertising campaign to engage the public on tax reform.
“Policymakers considering tax reform should keep in mind the enormous economic value of domestic energy production,” said Comstock. “Our industry supports more than 9 million American jobs while providing the energy that fuels our economy.”
and online ads are running yesterday and today in the Philadelphia media market, coinciding with Congressman Dave Camp and Senator Max Baucus’ Tax Reform Tour. The ads serve as a reminder that increasing taxes on the oil and natural gas industry could jeopardize our economic recovery.
“With a 44 percent effective income tax rate, America’s oil and natural gas industry pays its fair share and then some,” Comstock continued. “We urge Congress and the president to make the tax code fair and recognize the benefits of domestic energy production.”
The print and online ads highlight that domestic energy production is driving our economic progress. The television ad features a mother sitting at her kitchen table who remarks that energy is helping to get our economy moving. She tells the audience that Washington should not stop what is working because our economy cannot afford to move backwards.
These ads also ran in the Minneapolis-St. Paul market during the first stop of the congressional Tax Reform Tour.
API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.