- Energy Tax Facts
- 6 May 14
Journal Record (Op-Ed): Former U.S. Rep. Martin Frost of Texas Highlights Importance of American Energy
Five years ago, independent oil and gas producers from Oklahoma and nearby states established the Domestic Energy Producers Alliance to make sure the industry has bipartisan support in Congress.
The industry has a compelling story that has impressed both Democrats and Republicans. We’ve emphasized how net imports of oil and liquid fuels have fallen from 60 to 29 percent and the positive effects increased drilling activity has had on employment. This has been particularly important as the industry has faced issues dealing with hydraulic fracturing, tax reform and crude oil exports.
The alliance has led the way in demonstrating bipartisan support for preserving tax provisions critical to the industry. Last summer while the Senate Finance Committee was soliciting comments on tax reform, three Democratic senators – Mary Landrieu of Louisiana, Mark Pryor of Arkansas and Tom Udall of New Mexico – joined Republican U.S. Sen. Jim Inhofe in writing a strong letter to the committee in support of intangible drilling costs and percentage depletion.