Preserve the Existing Natural Gas and Oil Tax Provision

On February 26, 2009 President Obama unveiled his 2010 budget proposal outline. The budget plans includes major tax increases aimed at the oil and gas industry effective beginning 2011. The enactment of such proposals will strip essential capital from new American natural gas and oil investment. In particular, entities that rely on capital from individual investors to explore for natural gas and oil production will be severely hampered. America’s natural gas and oil exploration and production will be reduced which runs counter to the Administration’s clean energy and energy security objectives.

We are requesting your immediate action to help solicit or express strong opposition to what we believe to be the most harmful of the proposed tax changes. This effort is being coordinated by the Investment Program Association, a financial services industry association whose members include companies in the oil and gas business as well as those who raise capital for such businesses. Gas and oil producer organizations are also heavily engaged but we still need a grass roots effort. We are staying in touch with those industry organizations and are also consulting with advisors in Washington DC.

  Gas and Oil Tax Provision Position Paper (40.5 KiB)

  Do Higher Oil and Gas Taxes Pose a Threat to U.S. Energy Security? (428.7 KiB)

  Help Preserve Existing Oil and Gas Rules - What You Can Do (189.0 KiB)

  Help Preserve Oil and Gas Rules Sample Letter & Talking Points (48.5 KiB)