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Last updateTue, 22 Jul 2014 1am

U.S. Oil, Gas Taxes Face Opposition, Landrieu Says

The Obama administration should abandon plans to raise $45 billion by eliminating tax breaks for fossil-fuel producers such as Exxon Mobil Corp. and Chevron Corp., U.S. Senator Mary Landrieu said today.

“There’s going to be fierce opposition to taxing this industry, because it is counter to creating jobs and counter to energy independence,” Landrieu, a Louisiana Democrat, said at a hearing of the Senate energy committee on President Barack Obama’s fiscal 2011 budget proposal.

Source: Bloomberg

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