The American Petroleum Institute (API) launched a television and print ad campaign on Wednesday in Washington, DC, and in several states to drive home the importance of a favorable tax code in developing domestic domestic oil and natural gas and creating jobs.

“Taxes on the industry are a key energy issue, and, as our Election Day polling showed, voters are skeptical about targeting the industry for higher taxes. To encourage members of Congress who are part of that conversation with voters, we’re launching new television and print advertising inside the [Washington, DC] beltway and in selected states,” said Khary Cauthen, API senior director of federal relations.

Both the print and television ads will run for the next two weeks in the DC area, as well as New Mexico, North Carolina, Virginia, Arkansas, Alaska, Colorado and Louisiana.

President Obama has proposed eliminating $4 billion annually in tax breaks for oil and gas producers. “Raising our taxes is not the answer. We already are taxed at a higher rate than [many] other industries,” an API spokesman said.

“Targeting our industry for tax hikes is based on a mistaken assumption: that we don’t pay our fair share of taxes and are heavily subsidized. In fact, we pay more in corporate taxes than any other sector. And we pay at higher effective tax rates. We deliver more total revenue to the government,” Cauthen said.

“Targeted additional taxes on oil and gas are the wrong approach for what’s needed to rebuild our economy and get our fiscal house in order. More energy development produces more jobs, revenue and energy. More taxes produce less of all three.”

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