Pete Sepp
Whatever else you can say about the Obama Administration's energy policies, you have to give it credit for consistency and perseverance. The White House consistently misrepresents tax deductions and other provisions as "subsidies." And it perseveres in its years-long, disastrous campaign to raise tens of billions in new taxes on America's domestic energy producers.
As my colleague Demian Brady at National Taxpayers Union's research affiliate pointed out in a recent analysis, "If the Obama Administration was out to prove its commitment to recycling, it has certainly done so with the Fiscal Year 2014 budget. Washington may have been abuzz over the few ‘new' ideas contained in the latest package from the White House, but on closer inspection taxpayers will find many of the same old fiscal proposals that have ignited controversy in prior years."
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The United States is now experiencing a jobs boom in the energy sector, largely driven by the development of "tight" shale oil and natural gas. Associated with this activity has been a massive investment in transportation and processing infrastructure. By 2015, the shale boom will be responsible for 2.5 million jobs, according to a study co-sponsored by the U.S. Chamber of Commerce and energy consulting firm IHS. Last year alone, shale energy was responsible for $62 billion in tax revenue.
Read the full article at U.S. News & World Report.