Raising oil and gas tax will affect prices, hurt economy

When energy costs go up, most other prices eventually follow. It’s true for food, as farmers’ costs of planting and harvesting rise. It’s true for heating and cooling for Ohio families and small businesses. And it’s true for manufacturers like Byer Steel, because it takes energy for us to make rebar.

I find it perplexing that the Administration wants to raise taxes on America’s oil and gas companies, because that will result in higher energy prices, and we know what follows. We’ll be paying at the pump and elsewhere.

If attempts succeed to take away tax credits from energy companies that create new jobs or to impose double taxation on the foreign earnings of America’s energy companies, we will pay the price. Not only will our household prices go up, but we will also lose this industry’s ability to create more new jobs and boost our economy.

Let’s stop these unfair attacks seeking to raise taxes on a single industry. We need every American industry pulling hard to put Americans back to work and grow our economy. Taking potshots at successful companies won’t help reach these common goals.

Burke Byer, president and CEO

Byer Steel