Response to State of the Union Address

Jack Rafuse, former White House Energy Advisor made the following statement in response to the State of the Union address.

‘Clearly the President used this year’s State of the Union address as an opportunity to renew his tired and unfortunate attack on the nation’s fossil fuel industry. The tax deductions that he bemoaned in his address have contributed to the industry’s creation of thousands of new jobs and bottom line economic growth. It’s a fact that the provisions he targeted for repeal have helped the industry to support more than 10 million American jobs, while encouraging traditional fossil fuel firms to invest US$ 56 billion into the US economy. Although the President applauded the progress in oil production, in order to continue excellence in oil production the country indeed needs a smart tax policy that reflects constant investment in the future promise of America’s fossil fuel legacy.’

Adapted from press release by Claira Lloyd

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/29012014/response_to_state_of_union_energy_advisor/