API applauds bipartisan passage of House resolution opposing $10 tax on every barrel of oil

Washington, June 10, 2016 – API Director of Tax and Accounting Policy Stephen Comstock said lawmakers and the American people are sending a clear message to the White House – we don’t want to pay more at the pump.

“The administration’s proposed per barrel fee of $10.25 amounts to a gasoline tax that is anti-U.S. consumer and could hit everyone in the wallet,” said Comstock. “They think Americans are not paying enough for gasoline, so they have proposed this new tax that could raise the cost of gasoline by as much as 25 cents a gallon according Congressional Research Service. This could harm consumers that are enjoying low energy prices, destroy American jobs and reverse America’s emergence as a global energy leader.”

API thanked Rep. Boustany (R-La.) for introducing the resolution and the bi-partisan work of the House for putting consumers first in getting this resolution passed.

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans.