Report: Ending oil, gas tax incentives would spare production

05/15/2011 | Fox Business

Plans to repeal tax incentives for the top five oil and natural gas companies would only have a minor effect on gas prices and on oil production, according to a study released by Senate Democrats. The report "was neither accurate nor insightful," said Kyle Isakower, vice president of regulatory and economic policy for the American Petroleum Institute. "Those who want more revenue should work to increase access to available U.S. oil and natural-gas reserves, which have a long-term government revenue potential approaching $2 trillion," Isakower said.

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