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Viewpoint: Raising taxes on the oil industry increases dependence on foreign oil

May 14, 2011
The Marietta Times

President Obama's plan to raise taxes on the oil industry by an additional $4 billion a year never made much sense. Declaring open war on U.S. oil companies would reduce investment in domestic oil production and lead to even greater dependence on imported oil. It would result in a loss of jobs and royalty revenue, too.



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