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Oil and Gas Ads Target Energy Industry Taxes
Saturday, 03, April 2010


The oil and gas industry is funding an advertising campaign aimed at stopping new energy taxes, an effort that comes as it faces both a loss of tax benefits and possible new penalties as part of climate legislation.Industry trade group American Petroleum Institute launched the ads now running in Washington, D.C., and 10 states."What would new taxes on oil and gas mean to to you?" one ad asks, followed by a woman who answers: "Well, I'm against it because it would really hurt our economy.

It would take money away from businesses and stores.People would just be in more of a bind. I think it's just, it's not a good idea."Another ad urges: "Tell Washington to say no to energy industry taxes."The ads target President Obama's fiscal 2011 budget proposal to eliminate tax breaks for petroleum companies, API said. The Department of Energy said the plan would generate $36.5 billion over the next 10 years. The industry says it would cost companies $80 billion over the same period.
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