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API: Budget proposal signals radical, anti-consumer agenda

Carlton Carroll | 202.682.8114 |

WASHINGTON, February 8, 2016 – The administration’s final budget proposal due out Tuesday appears to outline a radical, anti-energy agenda of tax hikes and new regulations that could harm consumers, destroy jobs and raise energy costs, API President and CEO Jack Gerard told reporters in a conference call Monday.

“It appears the administration’s last year is dedicated to furthering an extremist agenda at the very real expense of the middle class and low-income families, through tax hikes on energy and a barrage of unnecessary and duplicative regulations that are catering to the well-funded, radical whims of ‘leave it in the ground’ activists.

“The White House has already floated one proposal from the budget: a $10 per barrel tax on crude oil. This unprecedented tax hike – adding, according to public reports, about 30 percent 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 U.S. oil and gas resources. 

“We know that this tax hike could also have an impact on food prices along with everything that relies on transportation to get to consumers. Only extremists whose goals ignore the concerns of consumers and lower-income families could welcome such an approach.

“The contrast between energy visions has never been clearer. The ‘leave it in the ground’ approach could drag America back to energy dependence, raise consumer costs, destroy jobs and damage the economy. With a pro-energy strategy, on the other hand, the United States would remain a world energy leader, with strong oil and natural gas production and refining -- bringing with it jobs, and clean and affordable energy for consumers and businesses.”

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.