News

WASHINGTON, April 28, 2011 – As U.S. oil and natural gas companies begin to report their first quarter earnings this week, API President and CEO Jack Gerard said critics should put the information into perspective, recognizing the valuable contributions the oil and naturalgas industry provides to our nation:

WASHINGTON, February 8, 2011 – U.S. oil and natural gas companies will not be able to successfully compete against their foreign counterparts on many international energy development projects if longstanding rules on taxing foreign income are changed, according to a newly released study by Wood Mackenzie. Legislative proposals put forth by the Administration would significantly alter how foreign tax payments by U.S.-based companies on their foreign income would be treated for U.S. income tax purposes – essentially subjecting them to double taxation on foreign operations. As a result, U.S. companies would face potentially lower returns investing in foreign oil and gas projects, would bid on fewer projects, and successfully bid less often.

WASHINGTON, January 4, 2011 – Increased access to domestic oil and natural gas—rather than increased taxes on the U.S. oil and natural gas industry—is the best strategy for increasing government revenue, jobs and energy production, a new study by Wood Mackenzie concludes.