In the upcoming 2010 US Federal Government budget, the government is proposing $400 billion in new taxes to the Oil & Gas industry. As any tax does, this will decrease domestic oil & gas production at a time when more energy, from all sources, is needed.
Moreover, one of the few industries that is doing OK in this depression is the O&G industry. If these new taxes pass, million of jobs could be at risk. Just here in Texas, the Oil & Gas industry indirectly supports 32.3% of all jobs in the state (2.8 million jobs)
To learn more, please visit this website.
Sunday, July 12, 2009
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