Higher oil, gas taxes would be a burden to middle class shareholders

10/27/2011 | FuelFix.com

Middle class shareholders would suffer more than executives if proposals to repeal tax incentives for oil and natural gas companies are passed, according to a study commissioned by the American Petroleum Institute. Retirement accounts and pension funds hold the majority of outstanding shares of such firms, the report found. "The $35 billion in dividends as well as gains in stock prices of oil and gas companies are directly benefiting the tens of millions of Americans who own oil and gas company stock," said Kyle Isakower, vice president of regulatory and economic policy at API.

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