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2016-02-09 18:50:00

RADICALS DESTROY U.S.

RADICALS DESTROY U.S.

WASHINGTON, February 8, 2016 – The administration's final budget proposal due out Tuesday appears to outline a radical, anti-energy agenda of tax hikes and new regulations that could harm consumers, destroy jobs and raise energy costs, API President and CEO Jack Gerard told reporters in a conference call Monday.

"It appears the administration's last year is dedicated to furthering an extremist agenda at the very real expense of the middle class and low-income families, through tax hikes on energy and a barrage of unnecessary and duplicative regulations that are catering to the well-funded, radical whims of 'leave it in the ground' activists.

"The White House has already floated one proposal from the budget: a $10 per barrel tax on crude oil. This unprecedented tax hike – adding, according to public reports, about 30 percent to the cost of a barrel of oil and potentially about 25 cents to the cost of a gallon of gasoline -- is just the latest bad idea from this administration when it comes to U.S. oil and gas resources.

"We know that this tax hike could also have an impact on food prices along with everything that relies on transportation to get to consumers. Only extremists whose goals ignore the concerns of consumers and lower-income families could welcome such an approach.

"The contrast between energy visions has never been clearer. The 'leave it in the ground' approach could drag America back to energy dependence, raise consumer costs, destroy jobs and damage the economy. With a pro-energy strategy, on the other hand, the United States would remain a world energy leader, with strong oil and natural gas production and refining -- bringing with it jobs, and clean and affordable energy for consumers and businesses."

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API's more than 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation's energy and are backed by a growing grassroots movement of more than 30 million Americans.

api.org

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More: 

OBAMA WANT MONEY 

CONOCO NET LOSS $4.4 BLN 

U.S. OIL & GAS JOBS DOWN 100,000 

U.S. RIGS DOWN 48 

CUTTING JOBS & INVESTMENTS

 

 

Tags: USA, OIL, TAX, BUDGET, JOBS,

Chronicle:

RADICALS DESTROY U.S.
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2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

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2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

RADICALS DESTROY U.S.
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NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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